$2.1MM • Norfolk, NE
Transaction Highlights
- Total financing of $2.1MM
- LTV of 18% and CLTV of 93%
- 30 years fixed
- Capitalized Interest Period for 1.5 years
c-pace:
$2.1MM
LTV:
18%
Type:
New Construction
building:
Hospitality
term:
30 Years Fixed
Status:
Closed
Project Description
The borrower was looking to build a new 90-key Marriott-flagged extended-stay/limited service hotel. The borrower was looking for high leverage financing solution to accompany their plan to hold the property for long term cash flow.
Bayview PACE provided $2.1MM in C-PACE financing to help round out the borrowers capital stack. Bayview provided a low, fixed rate loan for a 30 year term with a long interest only period.
