4 May 2021
Click here for the latest articles on C-PACE Financing.
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.
David Sudeck and his team at the Global Hospitality Group® at Jeffer, Mangels, Butler & Mitchell LLP handled a $42 million Commercial PACE loan for the 315-room citizenM hotel in Downtown Los Angeles. The property includes a restaurant, meeting space, and a 24-hour fitness center.
Hotel: citizenM Los Angeles Downtown
Location: Downtown Los Angeles, CA
Size of C-PACE Loan: $42 million
How we can help with C-PACE financing
Commercial 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.
JMM's Global Hospitality Group® has helped clients around the world with more than 4,300 hospitality properties worth more than $104.7 billion.