Case Studies

Summary 

The Sponsor was seeking a compelling capital structure for the development of a multifamily project, which would reduce their weighted average cost of capital. Adding a portion of PACE financing to the capital stack helped take interest rate risk off the table while also lowering the blended cost of capital. 

The Opportunity 

Bayview structured a unique combination loan package consisting of a $12MM C-PACE loan and a $46MM construction loan. Bayview originated the loans via one of its long-standing mortgage brokerage relationships and funded the entire debt stack through its wholly-owned subsidiaries Bayview PACE and Oceanview Life. Bayview closed a critical gap in funding and developed a model that worked for the development. Bayview structured the loan that helped optimize the capital stack. Underwriting was managed under one umbrella, and Oceanview is the consenting senior lender. Bayview is uniquely positioned to structure more of these package loans for the growing demand in commercial real estate amid tightening debt markets.