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  • Historic Long Beach Hotel Nabs $122M Refi
    by Nick Trombola on Tuesday, February 27, 2024

    A historic hotel in Long Beach, Calif., has secured a major refinancing package as part of its renovation and reopening efforts.  X-Caliber Funding and its affiliate, CastleGreen Finance, on Monday announced that it provided $122.2 million in capital for the Fairmont Breakers Long Beach, at 210 East Ocean Boulevard. About $64.5 million of that total

  • Columbia Pacific, Nuveen Green Capital Lend $89M on Seattle-Area Winery Project
    by Acoen on Tuesday, February 27, 2024

    VP Companies has secured $89 million of construction financing to build a retail winery development in suburban Seattle, Commercial Observer can first report.  Columbia Pacific Advisors provided a $47 million senior construction loan while Nuveen Green Capital originated a $42 million Commercial Property Assessed Clean Energy (C-PACE) loan on VP Companies’ planned The Yard in

  • George Smith Partners Acquires C-PACE Specialist Clearwater Capital
    by Acoen on Thursday, February 22, 2024

    Los Angeles-based George Smith Partners (GSP) has acquired New York’s Clearwater Capital Management in a move aimed at expanding its brokerage business into the Commercial Property Assessed Clean Energy (C-PACE) lending space, Commercial Observer has learned. “The acquisition of Clearwater Capital Management strategically complements our mission to broaden our capabilities and deepen our market penetration

  • Petros Supplies $27M C-PACE Loan on Chicago Multifamily Development
    by Acoen on Tuesday, February 20, 2024

    A joint venture between Melrose Ascension Capital and Singapore’s Q Investment Partners (QIP) has secured $26.5 million of Commercial Property Assessed Clean Energy (C-PACE) financing for its planned 18-story residential tower in Chicago. Petros PACE Finance supplied the C-PACE loan as part of an overall $63.7 million construction financing package on the 117-unit 633 S.

  • MBA CREF 2024: Adaptive Reuse Projects Driving Uptick in Financing Requests
    by Acoen on Wednesday, February 14, 2024

    In the midst of largely frozen debt markets with many property owners saddled by antiquated assets, a growing number of borrowers are seeking financing tools for adaptive reuse projects as a path to hit the reset button. Lenders at the annual Mortgage Bankers Association Commercial/Multifamily Finance Convention and Expo (known as MBA CREF) conference Tuesday

  • Nuveen, HALL Structured Finance Provide $67M Loan for Sand City Marriott Inn
    by Bpascus on Friday, February 2, 2024

    EKN Development and Garn Development have secured $67.1 million in construction financing to build the 215-key Marriott Courtyard Residence Inn in Sand City, Calif.  HALL Structured Finance provided the $39 million first mortgage, while Nuveen Green Capital, a subsidiary of Nuveen, provided a $28.1 million C-PACE loan, a type of low-cost financing for developers who

  • Nuveen Green Capital Hires Bank OZK’s Chris Lawton to Lead Originations
    by Cathy Cunningham on Thursday, February 1, 2024

    After spending eight years as a managing director at Bank OZK, Christopher Lawton has been named head of originations at Nuveen Green Capital (NGC), the clean energy lending arm of Nuveen, Commercial Observer has learned.  Lawton will lead originations and expansion activities for NGC, which focuses on green energy financings with a focus on Commercial

  • Builders Capital, Nuveen Lend $27M on SoCal Condo Project
    by Acoen on Friday, January 19, 2024

    Southern California developer Westerre has nabbed $26.8 million of construction financing to build a condominium development between Los Angeles and San Diego, Commercial Observer has learned. Builders Capital supplied a $17 million senior loan for the developer’s planned Del Prado Place project in Dana Point, Calif., while Nuveen also provided a $9.8 million Commercial Property

  • Sunday Summary: So Long 2023!
    by The Editors on Sunday, December 31, 2023

    As the ball prepares to drop in Times Square, we can bid farewell to 2023. It’s no secret that 2023 hasn’t exactly been the best year for commercial real estate. If you need proof, take a look at Commercial Observer’s top stories for 2023 in Southern California and see how many buildings sold in The

  • Peachtree Group Closes $46M C-PACE Loan for Palm Springs Hyatt Hotel
    by Acoen on Thursday, December 28, 2023

    Hall Group has nabbed $46 million of Commercial Property Assessed Clean Energy (C-PACE) financing for its new Hyatt-branded hotel project in Palm Springs, Calif., Commercial Observer can first report. Peachtree Group, formerly Stonehill, originated the C-PACE loan for Hall Group’s 168-key Thompson Palm Springs, which is slated to open in May. The financing, which is

  • Commercial Real Estate Financing Experts Look Beyond Borrowing Costs
    by Acoen on Wednesday, November 8, 2023

    A day after the Federal Reserve paused interest rates for a second straight meeting, commercial real estate lenders and brokers that Commercial Observer assembled for its eighth annual Fall Finance Forum voiced hope for some clarity from the central bank that would in turn spark a revival in transaction volume. “Certainty is the most important

  • North Bridge Makes $50M C-PACE Loan to Refinance Hotel in Berkeley, Calif.
    by Bpascus on Tuesday, October 10, 2023

    Pyramid Global Hospitality, a Boston-based hospitality developer and manager, has secured $50 million in C-PACE funding to refinance the Residence Inn Berkeley, a 331-key hotel in Berkeley, California that opened in 2021.   The closing, which occurred on Sept. 29, is the fourth-largest hotel financing using the federal C-PACE program to date and the largest hospitality

  • 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


 

 

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