DALLAS--(BUSINESS WIRE)--Preston Hollow Capital, a Dallas-based independent specialty finance company, announced today the completion of a $53 million tax-exempt bond transaction with the City of Doraville, Georgia in Metro Atlanta. Proceeds from the bonds will be used to fund infrastructure improvements of a planned $1.8 billion mixed-use development situated on 165 acres formerly occupied primarily by the Doraville General Motors Assembly Plant. Atlanta-based developer The Integral Group is leading the project, renamed Assembly. Serta Simmons Bedding, the nation’s largest mattress company, recently announced plans to build a headquarters and base 500 employees at a five-acre campus located on the Assembly site. An automotive dealership and a film/television production studio are already completed and operating at Assembly.
“The Assembly CID tax-exempt bond issuance was a complex transaction that required creative structuring, innovative thinking, and expertise from many different parties,” said Eric Pinckney, Chairman of Assembly CID. “Preston Hollow Capital partnered with Integral and our public partners to find solutions and raise the funds required to transform a city. It has been a pleasure working with the Preston Hollow team.”
“Preston Hollow Capital is pleased to be a part of this groundbreaking transformation of the City of Doraville,” said Marc Armentrout, Director at PHC. “We appreciate the opportunity to work with Integral’s development team, the City of Doraville and the State of Georgia in providing an unprecedented financial solution that will bring the vision of the Assembly project to fruition.”
About Preston Hollow Capital
Preston Hollow Capital (www.phcllc.com) is the leading solution provider in municipal finance. Headquartered in Dallas, Preston Hollow Capital is an independent specialty finance company with more than $1 billion in permanent equity capital and over $2 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, Preston Hollow Capital has closed over $1 billion in transactions across a variety of sectors of the municipal bond market including real estate, senior living, education, infrastructure, general government and economic development. Preston Hollow Capital differentiates itself with its ability to deliver capital with speed, certainty and flexibility.