$55.4MM Keystone, CO
Transaction Highlights
- Total financing of $55.4 MM
- LTC of 18.1% and Combined LTC of 55.9%
- Capitalized interest period of 20 months
- 26.5 year amortization
c-PACE:
$55.4MM
Term:
26.5 Years Fixed
Type:
New Construction
building:
Hotel + Condominium
Project Description
Condominium Resort Project in Keystone, CO. Bayview PACE provided $55.4MM in C-PACE financing for new construction 107-Key Hotel And a 95-Unit Condominium Resort in Keystone, Colorado. Bayview provided a fixed rate loan with a 26.5 year term that includes 20 months of capitalized interest.
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.
