Bricker involved in Ohio’s largest PACE transaction
Bricker’s economic development team recently serviced as PACE counsel on a $16.3 million refinancing of a construction loan, which is the largest Property Assessed Clean Energy financing in Ohio’s history. According to a recent press release, the “project will fund eligible upgrades to a 354-room dual branded Marriott Hotel & Residence Inn in Columbus near the Ohio State University Campus.” Anticipated energy efficient improvements specifically include upgrades to the lighting and the building envelope.
The hotel developer is Continental Hospitality Group and Petros PACE Finance was the capital provider. In addition, the project was approved by the Columbus Regional Energy Special Improvement District, as well as the City of Columbus.