Senior + CPACE: Integrated Capital Solution for $57.5MM Multifamily Development

Property Type
Multifamily
Investment Type
CPACE Lending
Brand
Date of Investment
Location
Ferndale, Washington
Keys
Units
350 Units
Square Footage
CPACE Lending
CPACE
CPACE Lending
CPACE
CPACE Lending
CPACE Lending
$57.5MM

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.

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Every Move Matters: Navigating the New Era of Commercial Real Estate

Market Insights Q1 2025 | 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.

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
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Peachtree在过去90天内完成了12笔总额超过2.5亿美元的贷款

在过去的90天中,Peachtree的贷款团队已经完成了12笔总额超过2.5亿美元的贷款。

桃树集团在过去90天内完成了12笔总额超过2.5亿美元的贷款

桃树集团 是一家全国性的直接资产负债表贷款机构,提供有竞争力的条款、内部贷款服务和灵活的资本,以处理各种项目。

Peachtree为美国各行各业的合格商业地产所有者提供全栈债务资本解决方案。我们提供桥梁、建筑、夹层、优先股、 CPACE,永久性和 NNN 融资

有关来自的一些最新贷款交易,请参见下文 桃树集团 包括酒店贷款、零售、多户住宅、工业和土地。点击这里查看我们的 投资组合

需要融资? 请通过 lending@peachtreegroup.com 联系我们。

精选:同时发起高级和CPACE的多功能酒店融资

桃树集团发起了5,040万美元的第一笔抵押贷款和2240万美元的商业地产清洁能源评估(CPACE)融资,用于开发位于南加州的拥有263间客房的双品牌酒店。该项目通过展示Peachtree集团全面执行优先贷款和CPACE贷款的能力,突显了其竞争优势。

点击此处阅读完整案例研究

精选:Peachtree在23天内完成了4000万美元的CPACE融资

在持续的信贷市场混乱中,桃树集团在短短23天内发放了4000万美元的追溯性CPACE贷款。

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精选:20.5万美元开发贷款用于转型

Peachtree Group与赞助商合作,将加利福尼亚州萨克拉曼多备受追捧地区的一家零售商店改建为工业建筑。

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精选:为酒店提供125万美元的过桥贷款

亚利桑那州凤凰城希尔顿花园酒店

桃树集团 与赞助商合作偿还了到期贷款,同时执行了一项商业计划,以升级其房产,以更好地在市场上竞争并保留其希尔顿旗帜。

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Peachtree是一家屡获殊荣的酒店贷款机构。 联系我们 来讨论你的交易。