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  • Buildings Capital Provides $24M in Construction Financing For Maine Condo
    by Bpascus on Tuesday, September 19, 2023

    GenX Capital Partners, a Miami-based real estate debt and equity advisory firm, has secured $24 million in construction financing to complete The Mark, a 45-unit, high-end condominium that managing partner Mark McClure hopes will serve the growing seasonal rental market in Portland, Maine.  Washington-based Builders Capital provided the $24 million in senior mezzanine construction financing,

  • Passive House Construction Works Financially. Why Isn’t There More of It? 
    by Tacitelli on Monday, September 4, 2023

    Developer A.J. Patton remembers when his mother received a $400 gas bill during a frigid Chicago winter in 1999. She worked in a cafeteria at the time, money was tight, and there was already a hole in the roof, so the bill went unpaid. The gas was shut off, and Patton spent a year heating

  • X-Caliber Leads $34M Financing for California Almond Processing Facility Expansion
    by Acoen on Wednesday, August 30, 2023

    California Custom Processing (CCP) has sealed a $33.5 million debt package for the refinance and expansion of an almond processing facility and renewable energy system in Central California, Commercial Observer can first report. X-Caliber Rural Capital (XRC), a subsidiary of X-Caliber Capital, provided a $29.5 million loan through the U.S. Department of Agriculture’s (USDA) Food

  • GreenRock Capital Leads $172M C-PACE Loan for Oakland Office Building
    by Acoen on Friday, August 18, 2023

    A $172 million Commercial Property Assessed Clean Energy (C-PACE) financing provided by GreenRock Capital for PG&E’s global headquarters in Oakland, Calif. could mark a blueprint for modernizing similar office buildings in the San Francisco Bay Area. The loan, led by GreenRock in conjunction with KeyBanc Capital Markets, set a new record for the largest C-PACE

  • Five Key Trends Are Now Accelerating C-PACE Finance Adoption
    by Nrizziobserver on Wednesday, August 2, 2023

    Taking a market pulse at this midpoint of 2023, it’s clear that commercial property-assessed clean energy (C-PACE) financing is surging in popularity, driven largely by the current upheaval in the traditional capital markets. For some project sponsors, C-PACE has in fact taken on urgency because the real estate industry’s typical go-to debt sources and financing

  • Nightingale’s 111 Wall Street Faces Foreclosure From Oaktree Capital
    by Mark Hallum on Wednesday, July 26, 2023

    Nightingale Properties is at risk of handing over the keys at 111 Wall Street as its lender looks to foreclose on the office tower. Oaktree Capital Management initiated the foreclosure action on the property, which is backed by $500 million in loans from Oaktree as well as SKW Funding, PIMCO and Bain Capital, Real Estate

  • Petros Picks Up Pace With Hiring of Morgan Stanley’s Kevin Porter
    by Acoen on Wednesday, July 12, 2023

    Petros PACE Finance has hired Kevin Porter from Morgan Stanley as the lender’s first chief credit officer in a move aimed at solidifying itself as the largest provider of Commercial Property Assessed Clean Energy (C-PACE) loans in the U.S., Commercial Observer can first report.  Porter joins Austin, Texas-based Petros after spending the last six years

  • Hybrid C-PACE Taking Hold as CRE Financing Strategy: Marcus & Millichap
    by Acoen on Tuesday, June 20, 2023

    The increased use of Commercial Property Assessed Clean Energy (C-PACE) financing as an alternative debt strategy is taking on more creativity in a blended form. Hybrid C-PACE financing, which combines C-PACE loans with senior mortgages, is gaining steam with sponsors seeking lower borrowing costs in a higher interest rate environment, according to a new report

  • $17M in Financing Aimed at Phase Two of Grimke School Transformation
    by Keith Loria on Wednesday, May 31, 2023

    Community Three Development has received $17 million in financing for the next phase of its redevelopment of the historic Grimke School in Washington, D.C. Clearwater Capital Management arranged the dual-tranche construction financing, which included a senior loan from City First Bank and a C-PACE financing facility from Stonehill PACE.  The money will go toward The

  • New York City C-PACE Program Remains in Holding Pattern
    by Acoen on Tuesday, April 11, 2023

    Nearly two years since the first Commercial Property Assessed Clean Energy (C-PACE) loan was executed in New York City, the financing strategy has failed to gain traction in the Big Apple. Since the inaugural $89 million C-PACE deal on 111 Wall Street from Petros PACE Finance closed in June 2021 during the final months of

  • DC PACE Funds Energy Upgrades For Ward 6 Condo
    by Keith Loria on Thursday, March 16, 2023

    DC Property Assessed Clean Energy (PACE) has joined forces with Stonehill PACE, an Atlanta-based C-PACE lender, to provide $5 million in financing to deliver energy efficiency and renewable energy upgrades to a condominium in the District’s Ward 6. The financing for the building, a 122,500-square-foot condominium at 950 Third Street NW, will generate environmental benefits

  • 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,



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