BGL Real Estate Advisors Completes Financing for the Hall of Fame Village Retail Component

CLEVELAND, Sept. 30, 2022 /PRNewswire/ -- Brown Gibbons Lang & Company (BGL) is pleased to announce the financial closing 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's Real Estate Advisors team served as the exclusive financial advisor to the Hall of Fame Resort & Entertainment Company (HOFV" href="/company/HOFV" onmouseover="handlePagePreview('company','HOFV')" style="color:#4007a2 !important; text-decoration:underline !important; font-weight:bold;">NASDQ: HOFVHOFV-pp">) in the transaction, with Huntington National Bank and Twain Financial Partners providing the financing.

The Hall of Fame Resort & Entertainment Company (HOFV) is a leading sports, entertainment, and media enterprise 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). Under the leadership of seasoned executive Michael Crawford, President & CEO of Hall of Fame Resort & Entertainment Company, HOF Village is poised to capitalize on its unique partnership with professional football. This platform allows for the continued development of an integrated resort complex that is the Hall of Fame Village, as well as other gaming and media verticals.

The development financing 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 move the ball down the field and couldn't be more pleased with the progress and the partnerships that have allowed us as a company to get to this point. We know that it "takes a village to build a Village," especially in the times in which we are living in. We are grateful for the great work and alignment with BGL and other funding sources which have been instrumental as we strategically execute against our game plan," shared Michael Levy, President of Operations for Hall of Fame Resort & Entertainment Company.

"It was a pleasure to be part of this talented, collaborative team and to provide Twain's flexible and creative ground lease financing solution for the Hall of Fame Village Retail Promenade," said Kelly Iffrig, Senior Counsel at Twain Financial. "We are confident that the Hall of Fame Village will be a premier destination."

The themed, experiential, destination masterplan of Hall of Fame Village includes three phases:

• Phase I is complete and included the Tom Benson Hall of Fame Stadium, the initial build-out of the Hall Fame Village Sports Complex, and the newly renovated DoubleTree by Hilton Canton Downtown hotel.
• Phase II is well underway and consists of a multi-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 that includes a zip line and giant wheel attraction to compliment food and beverage 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 Waterpark, round out the offerings of Phase II.
• A future Phase III is also in the early planning stages, and could include additional attractions, dining, lodging, 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 complement this destination masterplan.

The Fan Engagement Zone Retail Promenade will consist of unique restaurants, retailers, and experiential offerings, with RSI's Sportsbook, Topgolf Swing Suites, and Don Shula's as anchor tenants, and will feature rooftop views of the Tom Benson Hall of Fame Stadium.

BGL's Real Estate Advisors Group offers comprehensive real estate investment banking services tailored to the middle market. It provides client-focused solutions with an emphasis on real estate advisory, debt, preferred and private equity placement, financial restructuring, recapitalizations, sale-leasebacks, structured finance, and asset acquisitions and dispositions across all asset classes. The team assists real estate 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 corporations and private equity groups on mergers and acquisitions, capital markets, financial restructurings, business valuations and opinions, and other strategic matters. BGL has investment banking offices in Chicago, Cleveland, Los Angeles, and New York, and real estate offices in Chicago, Cleveland, and San Antonio. The firm is also a founding member of Global M&A Partners, enabling BGL to service clients in more than 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 the Hall of Fame Resort & Entertainment Company

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. Headquartered in Canton, Ohio, the Hall of Fame Resort & Entertainment Company is the owner of the Hall of Fame Village powered by Johnson Controls, a multi-use sports, entertainment and media destination centered around the Pro Football Hall of Fame's campus. Additional information on the Company can be found 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-use sports, entertainment and media destination centered around the Pro Football Hall of Fame's campus in Canton, Ohio. Owned by the Hall of Fame Resort and Entertainment Company (NASDAQ: HOFV, HOFVW), the Village currently has over $250 million worth of assets under management and is one of the largest ongoing construction projects in Ohio. Phase I of the project entailed the construction of the Tom Benson Hall of Fame Stadium, a world-class 20,000 seat, 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 Zone, a Hall of Fame indoor waterpark and a Hilton Tapestry Hotel. Phase III is currently in planning stages. For more information, visit www.HOFVillage.com.

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