Office – Dallas, TX

White Rock Tower, Dallas Texas. The subject property is a 73,000 square foot multi-tenanted, six-story, suburban office building located north of the Dallas Central Business District. The Project Sponsor partnered with Bayview to implement a cost-saving and energy efficient improvement through the replacement of the HVAC System which will maximize the sustainability of the building. Bayview’s ability to provide low rate, long term (25 year amortization) financing utilizing PACE resulted in a cash flow positive project for the borrower. As the demand for energy efficient buildings increases, property owners and mortgage lenders are recognizing that C-PACE offers the kind of innovative structure that enables them to increase the value of their asset.

Soon after purchasing the property, the borrower discovered that its HVAC system needed to be completely replaced. The borrower needed a non-recourse financing solution that would satisfy their senior lender while keeping payments low.

Instead of settling for short-term mezzanine debt, the borrower partnered with Bayview to secure $432,490 CPACE financing. Payments will be spread over 25 years rather than the typical 3-5-year term.