CLEVELAND, September 30, 2022 /PRNewswire/ — Brown Gibbons Lang & Company (BGL) is pleased to announce the financial close of the Fan Engagement Zone, 82,000 square feet of sports and entertainment-themed retail and dining at the Hall of Fame Village powered by Johnson Controls in Canton, Ohio. BGL Real Estate Advisors the team served as the exclusive financial advisor to the Hall of Fame Resort & Entertainment Company (NASDQ: HOFV) in the transaction, with Huntington National Bank and Twain financial partners providing funding.
The Hall of Fame Resort & Entertainment Company (HOFV) is a leading sports, entertainment and media company headquartered in Canton, Ohio. Established in 2020, the publicly traded company is the result of a business combination between HOF Village, LLC – a partnership between the Pro Football Hall of Fame and Industrial Realty Group (IRG), established in 2016 – and Gordon Pointe Acquisition Corp (GPAQ). Led by a seasoned executive Michael Crawford, President and CEO of Hall of Fame Resort & Entertainment Company, HOF Village is poised to capitalize on its unique partnership with professional football. This platform enables the continued development of an integrated resort that is the Hall of Fame Village, as well as other gaming and media verticals.
Financing for the development consisted of: (i) senior construction debt with Huntington National Bank, (ii) ground lease financing with Twain Financial Partners, and (iii) sponsor equity.
“We continue to drive the ball down the court and couldn’t be happier with the progress and partnerships that have brought us as a company to this point. We know it ‘takes a village to build a village”. especially in the times we live in. We are grateful for the great work and alignment with BGL and other funding sources who have been instrumental in the strategic execution of our plan. game,” shared Michel LevyPresident of Operations for Hall of Fame Resort & Entertainment Company.
“It was a pleasure to be part of this talented and collaborative team and to provide Twain’s flexible and creative ground lease finance solution for the Hall of Fame Village Retail Promenade,” said Kelly Ifrig, Senior Advisor at Twain Financial. “We are confident that the Hall of Fame Village will be a destination of choice.”
The thematic, experiential and destination master plan for the Hall of Fame Village consists of three phases:
- Phase I is complete and included the Tom Benson Hall of Fame Stadium, the initial construction of the Hall Fame Village Sports Complex, and the newly renovated DoubleTree by Hilton Canton Downtown hotel.
- Phase II is well advanced and consists of a mixed-use office complex in the Constellation Center for Excellence, a 100,000 square foot indoor facility in the Center for Performance, the Fan Engagement Zone and Play-Action Plaza, an outdoor entertainment space which includes a zip line and giant wheel attraction to complement the food and drink options contained within three acres of green space. A second hotel for the company, a Hilton Tapestry hotel, the completion of what is now known as the “Forever Lawn” sports complex and the Hall of Fame indoor water park, round out the Phase II offerings.
- A future Phase III is also in the early planning stages and could include additional attractions, restaurants, accommodations, apartments and other accommodations. The Hall of Fame Village campus is also home to the Pro Football Hall of Fame Museum, and while the museum is under separate ownership, the aligned synergies complete this destination master plan.
The Fan Engagement Zone retail promenade will feature restaurants, retailers and unique experiential offerings, with RSI’s Sportsbook, Topgolf Swing Suites and by Don Shula as anchor tenants, and will offer rooftop views of the Tom Benson Hall of Fame Stadium.
BGL’s group of real estate advisors offers a full range real estate investment banking suitable for the middle market. She provides client-focused solutions with a focus on real estate advisory, debt, preferred and private equity investment, financial restructuring, recapitalizations, sale-leasebacks, structured finance and acquisitions and asset disposals in all asset classes. The team assists property owners and developers looking to form alliances and joint ventures with single-source capital providers to gain local and institutional access for all capital needs.
About Brown Gibbons Lang & Company
Brown Gibbons Lang & Company (BGL) is a leading independent investment bank and financial advisory firm focused on the global middle market. The firm advises private and public companies and private equity groups on Mergers and Acquisitions, capital markets, financial restructuring, company ratings and opinions, and other strategic issues. BGL has investment banking offices in Chicago, Cleveland, Los Angelesand New Yorkand real estate agencies in Chicago, Clevelandand San Antonio. The firm is also a founding member of Global M&A Partners, enabling BGL to serve clients in over 30 countries around the world. Securities transactions are conducted through Brown, Gibbons, Lang & Company Securities, LLC, an affiliate of Brown Gibbons Lang & Company LLC and a registered broker-dealer and member of FINRA and SIPC. For more information, please visit www.bglco.com.
About Hall of Fame Resort & Entertainment
Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV, HOFVW) is a resort and entertainment company leveraging the power and popularity of professional football and its legendary players in partnership with the Pro Football Hall of Fame. Based at Canton, Ohio, the Hall of Fame Resort & Entertainment Company owns the Hall of Fame Village powered by Johnson Controls, a multi-purpose sports, entertainment and media destination centered on the campus of the Pro Football Hall of Fame. Additional information about the Company is available at www.HOFREco.com.
About the Hall of Fame Village powered by Johnson Controls
Hall of Fame Village powered by Johnson Controls is a multi-purpose sports, entertainment and media destination centered on the Pro Football Hall of Fame campus in Canton, Ohio. Owned by the Hall of Fame Resort and Entertainment Company (NASDAQ: HOFV, HOFVW), the village currently has over $250 million value of assets under management and is one of the largest ongoing construction projects in Ohio. Phase I of the project involved the construction of the Tom Benson Hall of Fame Stadium, a 20,000 seat world-class sports and entertainment stadium, and the Hall of Fame Village sports complex. Phase II, currently under construction, will add the Constellation Center for Excellence, the Center for Performance, a fan engagement area, a Hall of Fame indoor water park and a Hilton Tapestry hotel. Phase III is currently in the planning stage. For more information, visit www.HOFVillage.com.
SOURCE Brown Gibbons Lang & Company