The area around Rickenbacker Airport in Groveport is of high interest to developers because of its location. The Finance Authority worked with Kansas City-based real estate developer NorthPoint Development to help finance the construction of two warehouse facilities near Rohr and Pontius roads in Groveport. The massive facilities are one million square feet and 500,000 square feet, respectively. These were NorthPoint’s first projects in Central Ohio and since then NorthPoint has developed three additional phases in Pickaway County. The Finance Authority has issued more than $102 million to support NorthPoint’s undertakings.
How we helped:
Issued more than $102 million in bonds
Capital lease financing
Reduced the borrowing costs for developer
“I cannot speak highly enough of our experience with the Finance Authority and its team. They came to the table as problem-solvers and were able to move rapidly to get up to speed on our project, document the transaction and get it approved to meet our deadline. We hope to finance other transactions in partnership with them.”
– Brent Miles, VP, NorthPoint Development.
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