$4.3MM • Pennsylvania
Transaction Highlights
- Total financing of $4.3MM across 4 properties
- PACE LTV: 9%
- CLTV: 75%
- 25 years
- Interest-Only Period for a year
- Non-recourse with no covenants
c-pace:
$4.3MM
LOCATION:
PA
Type:
Retrofit
Building
Healthcare
term:
25 Years
Status:
Closed
Project Description
A former historic hospital campus had been converted into a multi-use medical facility with multiple tenants and buildings served by a failing central plant that needed replacement. Ownership needed additional capital for operations after paying for some of the required upgrades.
The campus was able to secure C-PACE financing from Bayview to pay for previous mechanical capital expenditures and a new steam boiler and chiller to serve the campus without having to request the existing lender to modify their loan.
