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Preston Hollow Capital Completes Ohio Municipal Redevelopment Financing Under Challenging Tax-Exempt Market Conditions
[March 25, 2020]

Preston Hollow Capital Completes Ohio Municipal Redevelopment Financing Under Challenging Tax-Exempt Market Conditions

Preston Hollow Capital (PHC), an independent specialty municipal finance company based in Dallas, announced today the successful completion of a $38 million tax-exempt bond financing for the City of Hamilton, Ohio.

The bonds will be used to support the redevelopment of the former Champion Paper Mill in Hamilton into a 20-acre sports and entertainment complex. The project will consist of a 650,000 sq. ft. sports complex and a 360,000 sq. ft. hotel property, which will include convention, retail and commercial space in addition to a 235-room hotel.

The bonds were issued by the Hamilton Community Authority and placed with Dallas-based Preston Hollow Capital. Piper Sandler served as underwriter on the financing. Squire Patton (News - Alert) Boggs LLP served as bond counsel and Bradley Payne Advisors, LLC served as financial advisor.

"Hamilton is thrilled to partner with a premier financial institution like Preston Hollow Capital," said Joshua Smith, City Manager of Hmilton. "In uncertain times, it provides comfort knowing we will be advancing a large project over the next few years which will provide jobs and a positive impact to our local economy."

"We're proud to have delivered on our commitment toward this exciting project under extraordinarily difficult market conditions," added Ramiro Albarran, Co-Head of Transaction Originations at Preston Hollow Capital. "PHC's permanent capital enables us to fund even in disrupted markets, for the benefit of municipalities like Hamilton."

Andrew Brossart, a Partner at Bradley Payne Advisors said, "PHC's investment helped make this project a reality. PHC team delivered what they promised on time and with ease of execution." Richard Hatton, Managing Director at Piper Sandler added, "Preston Hollow offered a creative solution and remained committed through these difficult times."

About Preston Hollow Capital

Preston Hollow Capital ( is the leading solution provider in municipal finance. Headquartered in Dallas, Preston Hollow Capital is an independent municipal finance company with over $1.8 billion in permanent equity capital and over $3.6 billion in investment capacity from a diverse investor base comprised of founding management, institutional investors including funds managed by Stone Point Capital LLC and HarbourVest Partners, and several prominent family offices. Since being founded by Chairman & CEO Jim Thompson in 2014, PHC has closed more than $2 billion in transactions across a variety of sectors of the municipal bond market including healthcare, real estate, K-12 and higher education, infrastructure, senior living, general government and economic development. PHC differentiates itself with its ability to deliver capital with speed, certainty and flexibility.

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