Case Studies

Summary

Bayview PACE closed a $61.5 million financing package for the second phase of West Harbor, a 42-acre open-air retail and entertainment development on the Los Angeles waterfront. The package included $10 million in C-PACE financing from Bayview PACE and a $51.5 million senior loan from affiliate Oceanview Life and Annuity Company. With phase one completed and phase two underway, West Harbor is already 80% pre-leased and set to open in early 2026. The project will feature restaurants, retail, a 6,200-seat amphitheater, waterfront promenade, and other destination amenities.

The Opportunity

The West Harbor financing illustrates how C-PACE can be strategically combined with senior debt to create a complete capital stack solution. In a lending environment where traditional construction loans can be difficult to secure, C-PACE offers developers a cost-effective, long-term financing option. This structure shows how C- PACE can reduce pressure on equity and bridge financing gaps, making projects more feasible. 

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