Over the past five years, Commercial PACE (or C-PACE) financing has gained wider acceptance and moved from a novel technique to a mainstream practical solution for financing. For more background on what C-PACE financing is, why it can be attractive, why it is becoming more popular and how JMBM's attorneys can help, see C-PACE Financing – Now an accepted tool for hotel lenders and borrowers.
Now that New York City has released guidelines for C-PACE financing, there are even more opportunities to make the most of this strategy–see our post on the upcoming rules here.
The GHG team recently closed a $5.8 million Commercial PACE (C-PACE) loan for the 103-room Fairfield by Marriott Inn & Suites in Camarillo, CA, which includes a fitness center with outdoor pool and meeting space.
Hotel: Fairfield by Marriott Inn & Suites
Camarillo
Location: Camarillo, CA
Size of C-PACE Loan: $5.8 million
How we can help with Commercial PACE (C-PACE) financing
C-PACE lending has become an important and fast-growing sub-specialty in our hotel finance capabilities. We work with C-PACE providers/lenders and borrowers. In fact, we have been fortunate enough to work with one of the leading providers of C-PACE financing as they expand their national platform.
We welcome inquires to see if we can help you evaluate potential PACE financing opportunities.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.