Skip to main content

Home/ Tours and travel/ Group items tagged Hotel-refinancing-with-CPACE

Rss Feed Group items tagged

Filter: All | Bookmarks | Topics Simple Middle
1More

Peachtree issues $40 million CPACE financing for AC Hotel San Diego - 0 views

www.asianhospitality.com/nancing-for-ac-hotel-san-diego CPACE-financing-for-hotels Hotel-refinancing-with-CPACE San-Diego-hotel-financing Peachtree-Group-CPACE
shared by asianhospitality on 27 Jun 24 - No Cached
  • asianhospitality on 27 Jun 24
     
    PEACHTREE GROUP RECENTLY issued a $40-million retroactive Commercial Property Assessed Clean Energy loan to BLG San Diego LLC for the newly opened 147-room AC Hotel San Diego Downtown Gaslamp Quarter. The proceeds enabled BLG to reduce its senior loan with California-based Preferred Bank and E.Sun Commercial Bank to under $20 million, thereby mitigating the banks' exposure, Peachtree said in a statement. "This innovative capital structure significantly alleviated the immediate financial pressures, enabling the hotel to establish a solid cash flow foundation during its initial years of operation," said Greg Friedman, managing principal and CEO, Peachtree Group. Peachtree is led by Friedman, with Jatin Desai as managing principal and chief financial officer, and Mitul Patel as principal.
1 - 1 of 1
Showing 20▼ items per page