Condominium – Huntington Beach , CA

$13.1MM • Huntington Beach, ca

Transaction Highlights

  • Total financing of $13.1MM
  • PACE LTV: 12.3% 
  • CLTV: 58.1%
  • Capitalized interest period of 17 months
  • 28 year amortization
c-PACE:

$13.1MM

Location:

CA

Type:

New Construction/Refinance

building:

Condominium

Term:

29 Years Fixed

Status:

Closed

Project Description

Bayview PACE provided a PACE loan for $13.1MM for the new construction of a condominium development under construction at 414 & 424 Main St., Huntington Beach, CA.

C3 Development, project sponsor for the Shorehouse Condominiums, is using the C-PACE proceeds to refinance the existing lender’s loan balance and complete construction on the property. The project includes 20 luxury condos, a 4,600 square-foot ground-floor retail space and 46 covered parking stalls. The overall project cost is $40 million and construction is expected to be completed in Fall 2023.  

 

CLOSED BY:

Contact Us:
C-PACE Originators
844-518-2343