Case Studies

Summary

The Sponsor was developing a retail and mixed-use project and needed a capital structure that preserved liquidity while limiting equity dilution. Incorporating C-PACE financing into the stack reduced the project’s weighted average cost of capital and provided long-term, fixed-rate funding. As reported by ICSC, the $10MM C-PACE financing for West Harbor in Los Angeles exemplifies how C-PACE is increasingly being used to replace more expensive mezzanine debt in similar projects. 

The Opportunity

Bayview recognized a strategic opportunity to provide a combined loan solution that met the project’s needs in a tightening credit environment. By structuring a $10MM C-PACE loan alongside senior construction financing—both funded through its subsidiaries—Bayview delivered a streamlined execution with a single underwriting team and aligned servicing. As demonstrated in recent deals like West Harbor, Bayview is uniquely positioned to originate full-stack financing packages that improve cost efficiency and enhance deal certainty for sponsors across the retail and mixed-use sectors.