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Piper Sandler finances $377m Hyatt Regency Salt Lake City
Transactions - JANUARY 14, 2020

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Piper Sandler finances $377m Hyatt Regency Salt Lake City

by Released

Piper Sandler Cos. served as sole capital arranger for the $377 million Hyatt Regency Salt Lake City.

The private financing sources arranged by Piper Sandler Cos. include nonrecourse 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 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 will include two restaurants, a lounge, an outdoor pool, a business center, a fitness center and an outdoor event terrace. The hotel will be locat

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