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Commercial PACE Financing on a Roll: $5.8 million C-PACE loan for Fairfield Suites

18 May 2021
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Over the past five years, Commercial PACE (or C-PACE) financing has gained wider acceptance and moved from a novel technique to a mainstream practical solution for financing. For more background on what C-PACE financing is, why it can be attractive, why it is becoming more popular and how JMBM’s attorneys can help, see C-PACE Financing – Now an accepted tool for hotel lenders and borrowers.

Now that New York City has released guidelines for C-PACE financing, there are even more opportunities to make the most of this strategy–see our post on the upcoming rules here.

The GHG team recently closed a $5.8 million Commercial PACE (C-PACE) loan for the 103-room Fairfield by Marriott Inn & Suites in Camarillo, CA, which includes a fitness center with outdoor pool and meeting space.

fairfield-marriott

photo: marriott.com

Hotel: Fairfield by Marriott Inn & Suites Camarillo
Location: Camarillo, CA
Size of C-PACE Loan: $5.8 million

 

How we can help with Commercial PACE (C-PACE) financing

C-PACE lending has become an important and fast-growing sub-specialty in our hotel finance capabilities. We work with C-PACE providers/lenders and borrowers. In fact, we have been fortunate enough to work with one of the leading providers of C-PACE financing as they expand their national platform.

We welcome inquires to see if we can help you evaluate potential PACE financing opportunities.

For C-PACE financing and other hotel finance-related inquiries, contact David Sudeck, at 310.201.3518 or dsudeck@jmbm.com


Profile-David-Sudeck

David Sudeck is a senior member of JMBM’s Global Hospitality Group® and JMBM’s real estate department. His practice primarily involves the complex issues associated with hotels, resorts, vacation ownership properties (including shared ownership, destination clubs, timeshares, fractionals and private residence clubs), restaurants (including chef consulting agreements), golf courses and spas.

A seasoned real estate attorney, David has extensive legal experience involving all types of residential and commercial properties. He represents owners – including hospitality clients – in the purchase and sale, development, construction, financing, leasing, and sale-leaseback of properties, and advises them on their operations and management agreements, including hotel management agreements. Contact David Sudeck at 310.201.3518 or dsudeck@jmbm.com.


Picture of Jim ButlerThis is Jim Butler, author of www.HotelLawBlog.com and founding partner of JMBM and JMBM’s Global Hospitality Group®. We provide business and legal advice to hotel owners, developers, independent operators and investors. This advice covers critical hotel issues such as hotel purchase, sale, development, financing, franchise, management, ADA, and IP matters. We also have compelling experience in hotel litigation, union avoidance and union negotiations, and cybersecurity & data privacy.

JMBM’s Global Hospitality Group® has helped clients around the world with more than 4,300 hospitality properties worth more than $104.7 billion. Contact me at +1-310-201-3526 or jbutler@jmbm.com to discuss how we can help.


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