Piper Sandler Finances the $377 Million Hyatt Regency Salt Lake City
Piper Sandler Companies (PIPR)
Last piper sandler companies earnings: 5/1 08:04 am
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Source: Business Wire
PHOENIX--(BUSINESS WIRE)--Piper Sandler Companies (NYSE: PIPR), a leading investment bank and institutional securities firm, served as sole capital arranger for the $377 million Hyatt Regency Salt Lake City, which closed on December 30, 2019. The private financing sources arranged by Piper Sandler Companies (“PSC”) include non-recourse construction debt and limited partner equity. In addition, the Piper Sandler Hospitality Group served as the placement agent for the $54.7 million Commercial Property Assessed Clean Energy (C-PACE) loan to finance a portion of the project, which represents the single largest amount ever financed by C-PACE nationally. PSC also served as the sole underwriter for a $45.0 million taxable bond issue to finance the remaining portion of the project, which will be repaid by taxes generated at the hotel.The luxurious Hyatt Regency Salt Lake City will consist of a 26-story building with 700 guest rooms, approximately 60,000 square feet of meeting space and wi
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