Senior + CPACE: Integrated Capital Solution for $57.5MM Multifamily Development
Overview
In January 2025, Peachtree Group successfully originated a $57.5MM senior debt package for Harrington Place, a 350-unit multifamily development in Ferndale, Washington.The transaction included a $29MM Commercial Property Assessed Clean Energy (CPACE) loan and a $28.5MM first mortgage, showcasing Peachtree's ability to deliver a seamless capital stack under one roof.

The Opportunity
Atlanta-based Peachtree Group financed Arlington, Washington-based developer Grandview North's development of Harrington Place, a Class A apartment community located 10 miles northwest of Bellingham in a high-growth corridor between Seattle and Vancouver. The $90MM project had previously encountered construction delays due to permitting issues, requiring a recapitalization of its original financing plan.
With permitting in hand and momentum back on track, Grandview needed a flexible and reliable lender that could fund construction and provide CPACE financing under one streamlined platform.
The Financing Structure
Peachtree's solution was structured as follows:
- $29MM fixed-rate CPACE loan with a 30-year term and repaid through property tax assessments.
- $28.5MM floating-rate construction loan with an 18-month initial term and extension options.
- $13MM of the senior debt funded at closing.
- The financing also included a $20 million mezzanine loan from Hickory CRE Lending to align its maturity with the Peachtree senior facility.
Why CPACE + Senior in One Package Matters
While CPACE financing offers long-term, low-cost capital for energy-efficient development, many developers struggle to find senior lenders willing to accommodate it. Peachtree eliminates this hurdle by providing CPACE and senior debt side by side.
"By providing borrowers with debt solutions across the capital stack—including CPACE—we allow them to maximize efficiency and value creation without the friction typically associated with piece meal capital sourcing," said Jared Schlosser, executive vice president, hotel originations and head of CPACE, Peachtree Group.
Takeaway
This deal illustrates how Peachtree's vertically integrated approach, combining CPACE and senior debt into a unified structure, can streamline execution and accelerate delivery for development projects. As developers increasingly seek capital partners who can simplify complexity, Peachtree's solution-driven model is poised to lead the way. Learn more about the deal here.
관련
사례 연구
피치트리 뉴스 및 인사이트

Every Move Matters: Navigating the New Era of Commercial Real Estate
You don't think twice about skipping a workout or hitting snooze, until six months later when your back goes out lifting a suitcase. That's the thing about choices: they rarely shout. Most whisper. At the moment, they feel light, harmless, and even forgettable. But over time, they stack up and eventually shape everything.
It's the same in commercial real estate.
For years, the market rewarded financial engineering. Falling interest rates, cap rate compression and cheap capital allowed many investors to ride the momentum and still generate strong returns. That era is over.
We're now operating in a higher-for-longer environment. Interest rates are elevated, traditional lenders have pulled back, and capital markets are volatile. Macroeconomic disruptions, geopolitical risk and inflation-shifting trading policy are repricing risk in real time.
In this environment, every move matters. Every decision, whether to buy, sell, recapitalize or hold, carries more weight than it did even a year ago.
· Capital must be deployed with precision. The margin for error has narrowed. Mispricing risk, overleveraging,or relying on optimistic underwriting can quickly impair a deal.
· Liquidity is a strategic advantage.In a market where many lenders have pulled back or lowered leverage, execution certainty is no longer assumed. It's earned.
· Fundamentals, not financial engineering, define success. Cap rate compression is no longer the tailwind it once was. Returns must come from operational excellence, asset quality and disciplined management.
· Time is costly. In action can be just as damaging as a poor decision. Delays in refinancing or hesitation in uncertain markets can weigh heavily on performance.
At Peachtree, we've built our platform for this exact environment. With a fully integrated investment and credit platform, deep experience across market cycles, and flexible capital ready to deploy, we're well-positioned to take decisive action when others hesitate.
Because in this market, as inlife, every action has a weight and the most successful outcomes are born from clarity, discipline and conviction.
Private credit remains one of the most compelling solutions in today's market, offering downside protection, yield and flexibility. And with traditional capital still constrained, special situation investing is gaining momentum as a primary strategy to unlock value in a dislocated market.
As the landscape evolves, we continue to seek opportunities that leverage our strengths and provide value to our investors.
— Greg Friedman | Managing Principal & CEO of Peachtree Group

피치트리, 지난 90일 동안 총 2억 5천만 달러 이상의 대출 12건 마감
피치트리 그룹은 지난 90일 동안 총 2억 5천만 달러 이상의 대출 12건을 마감했습니다.
피치트리 그룹 는 경쟁력 있는 조건, 사내 대출 서비스 및 다양한 프로젝트를 처리할 수 있는 유연한 자본을 제공하는 전국적인 직접 대차대조표 대출 기관입니다.
Peachtree는 미국 전역의 모든 부문의 자격을 갖춘 상업용 부동산 소유주에게 풀스택 부채 자본 솔루션을 제공합니다. 우리는 교량, 건설, 메자닌, 우선주 등을 제공합니다. CSPACE, 영구 및 NNN 파이낸싱.
가장 최근의 대출 거래 중 일부는 아래를 참조하십시오. 피치트리 그룹 호텔 대출, 소매업, 다가구, 산업 및 토지 포함여기를 클릭해 저희를 찾아주세요 포트폴리오.
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파이낸싱이 필요하세요? lending@peachtreegroup.com 으로 문의하세요.
추천: 시니어 및 CPACE 출처를 모두 갖춘 다목적 호텔 파이낸싱
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Peachtree Group은 남부 캘리포니아에 위치한 263개의 객실을 갖춘 이중 브랜드 호텔의 개발을 위해 50.4백만 달러의 첫 번째 모기지와 2240만 달러의 상업용 부동산 평가 청정 에너지 (CPACE) 파이낸싱을 시작했습니다.이 프로젝트는 시니어 대출과 CPACE 대출을 모두 완벽하게 실행할 수 있는 능력을 입증함으로써 Peachtree Group의 경쟁 우위를 강조합니다.
전체 사례 연구를 읽으려면 여기를 클릭하십시오.
추천: 피치트리, 23일 만에 4천만 달러 규모의 CPACE 파이낸싱 마감

신용 시장의 혼란이 계속되는 가운데, Peachtree Group은 단 23일 만에 4천만 달러 규모의 소급 CPACE 대출을 시작했습니다.
보도 자료를 읽어보세요.
추천: 전환을 위한 20.5만 달러 개발 대출

Peachtree Group은 후원사와 협력하여 캘리포니아 새크라멘토의 인기 지역에 있는 소매점을 산업 건물로 전환했습니다.
사례 연구를 읽어보십시오.
추천: 호텔을 위한 12.5만 달러의 브리지 론

피치트리 그룹 스폰서와 협력하여 만기 대출금을 상환하는 동시에 시장에서 더 나은 경쟁력을 유지하고 힐튼 깃발을 유지할 수 있도록 부동산을 업그레이드하기 위한 사업 계획을 실행했습니다.
사례 연구를 읽어보십시오.
Peachtree는 수상 경력에 빛나는 호텔 대출 기관입니다. 문의하기 거래에 대해 논의하기 위해서요