Condominium Project in Hollywood, FL. Total project cost of $40MM. Bayview PACE provided $11.8MM in C-PACE financing for a 36-unit boutique luxury beachside condominium complex in Hollywood, FL. Bayview provided a low, fixed rate loan for a 30 year term with long capitalized interest and interest only periods

The borrower was looking for a low cost option to fill a gap above the construction lender’s maximum proceeds. They had considered C-PACE but needed a creative loan structure that took into account payoff at the time the condominiums were sold. Bayview PACE structured a unique disbursement and release mechanism with the senior lender and the PACE program administrator that enabled C-PACE to be used for construction financing of condominiums. Additionally, Bayview was able to maximize PACE proceeds to provide the owner with a higher LTC and bring down their total cost of capital.