BPG secures critical equity capital commitments for FNB Financial Center
Pittsburgh, PA — The largest mixed-use, multi-tenant office project in the city of Pittsburgh has completed its financing requirements to advance toward construction, with an infusion of equity from minority-owned Clay Cove Capital, LLC. The Buccini/Pollin Group (BPG) secured Clay Cove’s critical equity capital commitments for the FNB Financial Center, joining BPG, the Pittsburgh Penguins and F.N.B. Corporation as equity investors in the $230 million, 26-story iconic tower that will rise in the Lower Hill neighborhood. The project will be the most highly visible addition to the Pittsburgh skyline and a critical catalyst for over $1 billion of economic expansion, job creation and neighborhood reinvestment. Despite the challenges of a very difficult economy, BPG now has all debt and equity arrangements necessary to advance the construction of the tower that will become the future headquarters of F.N.B. Corporation. The partners anticipate a Q2 2021 ground breaking. Clay Cove Capital, a minority-owned investment firm led by partners Amachie Ackah and Brian Eng, is pleased to commit funds that will far exceed the vision for such equitable investment under the ambitious neighborhood reinvestment agreement known as the Community Collaboration and Implementation Plan (CCIP).