$13.1MM • Huntington Beach, ca
- Total financing of $13.1MM
- PACE LTV of 31% and Combined LTC of 79%
- Capitalized interest period of 18 months
- 29 year amortization
29 Years Fixed
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.