$13.1MM • Huntington Beach, ca
Transaction Highlights
- Total financing of $13.1MM
- PACE LTV: 12.3%
- CLTV: 58.1%
- Capitalized interest period of 17 months
- 28 year amortization
c-PACE:
$13.1MM
Location:
CA
Type:
New Construction/Refinance
building:
Condominium
Term:
29 Years Fixed
Status:
Closed
Project Description
Bayview PACE provided a PACE loan for $13.1MM for the new construction of a condominium development under construction at 414 & 424 Main St., Huntington Beach, CA.
C3 Development, project sponsor for the Shorehouse Condominiums, is using the C-PACE proceeds to refinance the existing lender’s loan balance and complete construction on the property. The project includes 20 luxury condos, a 4,600 square-foot ground-floor retail space and 46 covered parking stalls. The overall project cost is $40 million and construction is expected to be completed in Fall 2023.
