C-PACE News from
Commercial Observer

Given the many factors roiling the economy and our industry, this has been a productive time for private lenders, who have stepped up to provide many of the loans that banks have sought to avoid. Partner Insights spoke with Don Braun, president of HALL Structured Finance, a direct private lender, to learn about how troubled

For all the doom and gloom in the media about the current state of New York City, the truth is far more complex, including that there are many, many reasons to be optimistic about New York right now, and that the strength of its economy is reason No. 1. At Commercial Observer’s Future of New

Fannie Mae and Freddie Mac have originated more than half of the $1.1 trillion in outstanding multifamily loans set to mature within the next decade, and a stunning $300 billion in agency debt comes due in the next five years alone, according to a new report from Yardi Matrix.   Moreover, the largest number of properties

The commercial real estate industry entered 2024 with plenty of optimism after the Federal Reserve Board signaled during its December meeting that lower interest rates were around the corner. After all, transaction volume had slowed to a crawl the previous 18 months, and lower rates would spur dealmaking activity and lower financing costs dramatically.  The

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

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

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

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.

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

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

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

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

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

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

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