Macquarie Asset Management has issued a $250m (€231m) credit facility in the US to support the initial development of the Mosaic Quarter Sports Complex, a sports and entertainment destination in Tucson, Arizona.
Macquarie said the long-term financing, made on behalf of investors, was provided to Pima County as a credit tenant loan, secured by a long-term lease.
This financing allows Pima County to access capital for development while granting the facility operational flexibility.
Phase 1 of Mosaic Quarter, expected to be completed in 2027, will include a professional-grade iceplex with three rinks and seating for around 3,000 people and a multi-purpose indoor sports facility and events space.
The facility will feature onsite energy generation including an initial 1MW solar installation as well as stormwater harvesting infrastructure.
Hugo James, managing director at Macquarie Asset Management, said: “The Mosaic Quarter will be transformational for the local community, providing state-of-the-art sports and recreational facilities for the people of Tucson.
“We are proud to be able to support this development with a bespoke financing solution, and help get the first phase of this important project off the ground.”
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