Bayview PACE provided $2.1MM in C-PACE financing for New Construction of a 90-Key Marriott Hotel.
Recent Closing Profile – 90-key Marriott Hotel
Total Project Cost: $2.1MM
Bayview PACE provided $2.1MM in C-PACE financing for a 90-key Marriott Hotel in Norfolk, NE. Bayview provided an aggressively low, fixed rate loan for a 30 year term with a long interest only period.
Pace In Action
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 new construction financing. Additionally, Bayview was able to maximize PACE proceeds to provide the owner with a higher LTC and bring down their total cost of capital.