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  • Final Rules for NYC’s Local Law 97 Still Up in the Air Less Than a Year Out
    by Nrizziobserver on Monday, January 23, 2023

    Few emissions standards for most larger New York City buildings take effect in less than a year, and the scramble is on to set the rules for compliance. The biggest sticking point appears to be what building owners can do other than make major structural changes to their properties to offset pollution, including buying credits

  • North Bridge Closes Florida’s Largest C-PACE Deal With $42M Hotel Loan
    by Acoen on Wednesday, December 21, 2022

    HB Capital Group has sealed a $42 million Commercial Property Assessed Clean Energy loan for the renovation of a hotel in Miami-Dade County to mark the largest C-PACE transaction in Florida to date, Commercial Observer has learned. North Bridge supplied the loan on HB Capital’s Newport Beachside Hotel & Resort in Sunny Isles Beach, Fla.

  • The Nation’s Top Financiers Say ‘Hang on to Your Hats’ at CO’s Fall Finance Forum
    by Acoen on Wednesday, November 16, 2022

    Even on a day that delivered positive inflation news, lenders and brokers were bracing for choppy waters ahead at Commercial Observer’s seventh annual Fall Financing CRE Forum in New York last week. The event, held Nov. 10 at the St. Regis Hotel, kicked off just as data was released showing U.S inflation slowed in October

  • X-Caliber, CastleGreen Lend $52M on California Almond Cold-Storage Facility Build
    by Acoen on Tuesday, November 15, 2022

    Origo Investments has secured $52 million of construction financing to build a cold-storage almond asset in Northern California, Commercial Observer can first report. X-Caliber Rural Capital, a subsidiary of X-Caliber Capital, provided a $35 million loan through the U.S. Department of Agriculture’s (USDA) food supply chain program for the planned Origo Cold Storage facility in Madera,

  • The Ratkovich Co., Jerico Secure $90M in Financing for LA Entertainment Complex
    by Gcornfieldcommercialobservercom on Monday, November 14, 2022

    West Harbor — a 42-acre retail, dining and entertainment revitalization project along the Los Angeles Waterfront in San Pedro — is set to be the newest destination and gathering place for the South Bay. The Ratkovich Company and Jerico Development broke ground at the long-awaited project at the Port of Los Angeles on Nov. 12

  • Access to CRE Industry Requires Access to Capital, Transparency: CO Forum
    by Tacitelli on Tuesday, November 8, 2022

    Diversity, equity and inclusion (DEI) is on the mind — and the sites — of real estate developers.  During Commercial Observer’s National Diversity & Inclusion Forum, “Creating Access Through Transparency,” industry experts analyzed DEI efforts, progress and barriers. Held virtually on Nov. 3, the event outlined systemic roadblocks to diversifying the industry. Panelists highlighted historic

  • Welcome to New York City, C-PACE
    by Emilyfu on Wednesday, October 12, 2022

    New York City is finally picking up the pace on, well, PACE. Commercial Property Assessed Clean Energy financing, or C-PACE, is a form of financing that enables property owners to obtain funding in exchange for certain energy-efficient building improvements. New York State permitted C-PACE for New York City in March, but withdrew the permission less

  • Petros Closes Largest C-PACE Deal With $153M Loan for Utah Project
    by Acoen on Monday, October 3, 2022

    Reef Capital Partners has scored a $153 million Commercial Property Assessed Clean Energy financing package for its planned 580-acre resort in Utah. It marks the largest-ever C-PACE transaction. Petros PACE Finance supplied the loan for Reef’s $820 million Black Desert Resort Project in Ivins, Utah, near Zion National Park. Mansoor Ghori, CEO and co-founder of

  • On the Money: North Bridge’s Laura Rapaport Demystifies C-PACE
    by Cathy Cunningham on Tuesday, September 27, 2022

    At an industry conference earlier this year, an attendee stood up at the end of a panel discussion, raised his hand and asked a question about the use of Commercial Property Assessed Clean Energy (C-PACE) financing in the capital stack. The four lender panelists sat silent for a moment until one humbly asked: “What’s C-PACE?” 

  • Stonehill Originates $42M for Columbus Hilton Property
    by Acoen on Friday, August 5, 2022

    A joint venture between Indus Hotels and Schottenstein Property Group has landed a $41.8 million debt package to refinance and implement green energy upgrades at a Hilton-branded hotel in Columbus, Ohio, Commercial Observer has learned. Stonehill originated a five-year, $26.3 million, fixed-rate bridge loan for the JV to refinance Canopy By Hilton Columbus Downtown Short

  • First Western Leads $33M Construction Deal for Minnesota Mixed-Use Project
    by Acoen on Tuesday, June 28, 2022

    GoodNeighbor Properties has secured $32.6 million of construction financing to build a mixed-use development in Minnesota, Commercial Observer can first report. First Western Bank provided a $21.5 million senior construction loan for GoodNeighbor’s planned project on a 2.5 acres of land in Alexandria, Minn. Enhanced Capital supplied $6 million of equity and $5 million of

  • PACE Loan Group Combines Real Estate with Sustainability Through C-PACE
    by Rleigh on Monday, June 27, 2022

    C-PACE provides developers with low-cost, long-term financing for energy-efficient and otherwise environmentally friendly aspects of both new and redeveloped projects. Partner Insights spoke with Rafi Golberstein, president & CEO of PACE Loan Group, one of the country’s leading C-PACE lenders, to learn more about C-PACE’s potential for financial savings and energy improvements in today’s development

  • Low-Emission Buildings Give Some New York Developers High Financial Hopes
    by Celia Young on Friday, June 24, 2022

    New York City’s oft-maligned Local Law 97, which requires owners of most larger buildings to reduce their carbon emissions, has been subject to criticism and even a lawsuit calling the measure financially burdensome and unconstitutional. But for some developers, the law has proven to be a welcome catalyst for pursuing environmentally friendly developments — ones

  • Why CRE Companies Should Consider C-PACE Financing Now
    by Tacitelli on Wednesday, June 22, 2022

    When Taconic Partners was structuring the financing for a $120 million building transformation at 730 Third Avenue to fund lighting upgrades, roof insulation and the installation of smart windows, the firm included a $28 million C-PACE loan in the capital stack. Work on the building includes the creation of outdoor terraces, a food hall, a

  • How C-PACE Financing Can Help Offset Costly Economic Conditions
    by Sophia on Monday, June 6, 2022

    At a time when developers are facing a seemingly endless array of increasing economic challenges — including inflation and deepening supply-chain issues, to name just a few — any tool that eases the burden could be considered crucial. Developers are turning to C-PACE (Commercial Property Assessed Clean Energy) financing, which allows them to lighten the


 

 

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