亚特兰大（2024 年 1 月 17 日） — 桃树集团官员今天宣布，该公司代表总部位于圣地亚哥的垂直整合房地产开发和管理公司百特酒店集团发起了7300万美元的建筑贷款和CPACE融资，用于在加利福尼亚州圣地亚哥开发拥有263间客房的双品牌Home2 Suites（130间客房）和Tru by Hilton酒店（133间客房）（133间客房）。百特计划在本月开始建造其16层高的双品牌酒店，预计施工时间表为22个月。
Peachtree集团团队发放了为期三年的5,040万美元浮动利率建筑贷款，并在25年内摊销了2260万美元的固定利率商业地产清洁能源（CPACE）融资，总额占总开发成本的64％。
Peachtree高级副总裁、酒店发起和CPACE主管贾里德·施洛瑟表示：“在原本困难的融资市场中，通过加入CPACE，我们得以执行创新的资本堆栈，这为施工提供了充足的资金，同时为赞助商节省了200个基点的利差。”
施工预算中有符合CPACE资格的项目，包括抗震改善、照明、建筑围护结构、暖通空调、管道和符合条件的软成本。
该酒店将位于第五大道1357号，将迎合短期和长期住宿的客人，提供一种历来市场上服务不足的新产品。所提议的高质量便利设施在服务有限的酒店中很少见，例如获得能源与环境设计领导力（LEED）认证的可持续设计、一楼餐厅和一个配备齐全的餐厅和酒吧的屋顶游泳池，可欣赏圣地亚哥市中心的全景。
关于桃树集团
Peachtree Group是一家投资公司，通过多样化的商业房地产资产和其他风险投资组合推动增长。自成立以来，该公司已经进行了数百项投资，重点是总市值接近93亿美元的房地产收购、开发和贷款。如今，Peachtree管理着超过25亿美元的股权，并辅之以旨在保护、支持和增加其投资的服务。欲了解更多信息，请访问 www.peachtreegroup.com。
联系人：
查尔斯·塔尔伯特
678-823-7683
ctalbert@peachtreegroup.com
ATLANTA (August 18, 2024) – Peachtree Group (“Peachtree”) has originated the largest credit transaction in its history, closing a $176.5 million retroactive Commercial Property Assessed Clean Energy (“CPACE”) loan for Dreamscape Companies’ recently renovated 2,520-room Rio Hotel & Casino(“Rio”) in Las Vegas, Nev. The deal, finalized in less than 60 days, ranks among the largest CPACE financings ever completed in the United States.
The Rio, now under the Destinations by Hyatt brand, is a casino resort featuring two hotel towers, Ipanema and Masquerade, connected by a casino, restaurants and retail establishments. Renovations completed in 2024 included a full transformation of the Ipanema Tower guest suites, a reimagined casino floor and significant upgrades to multiple food and beverage venues. The comprehensive property improvement plan also delivered exterior enhancements, modernization of the central heating and cooling plant, electrical infrastructure upgrades and renovations to the convention center.
“This deal highlights an inflection point for CPACE, with some of the nation’s largest financial institutions consenting to its use because they see the clear benefit to the capital stack,” said Jared Schlosser, head of originations and CPACE for Peachtree. “By closing quickly on a marquee hospitality asset, we were able to strengthen the position of both the owner and its lenders.”
The CPACE loan retroactively funded the renovations enabling the owners to pay down their senior loan. Retroactive CPACE funding offers a distinct advantage by allowing 100% of the proceeds to be reimbursed for completed project costs.
“This transaction is not only a historic milestone for Peachtree Group, but also a testament to the ecosystem we have built over the past 18 years,” said Greg Friedman, managing principal and CEO of Peachtree. “Through our vertically integrated platform, deep expertise and disciplined approach, we have developed the infrastructure to be a leader in the private credit space. Our ability to deliver speed, creativity and certainty of execution positions us to provide capital solutions that create value for our investors and partners across market cycles.”
The CPACE market has surpassed $10 billion in cumulative U.S. originations in just over a decade, according to the C-PACE Alliance, with strong growth expected as more institutional owners and lenders recognize its value. “We see tremendous opportunity ahead for retroactive CPACE and its use in funding new commercial real estate development,” Schlosser said. “It’s an attractive alternative to more expensive forms of capital.”
Peachtree is one of the most active CPACE lenders in the country, with more than $1.5 billion in originations. The firm’s credit platform spans CPACE, bridge, mezzanine and construction lending, providing creative capital solutions across market cycles.
The hotel lending landscape continues to shift, shaped by rising rates, tighter equity, and the need for more creative capital structures.In this Hotel Business Magazine roundtable recap, Peachtree Group’s Michael Harper, President, Hotel Lending, and Jared Schlosser, Head of Credit Originations & Commercial CPACE, share insights on:
• Navigating the gap between buyer/seller expectations
• The growing role of private credit
• Structuring deals with CPACE, mezzanine, and hybrid financing
• Underwriting and execution in today’s higher-risk environment
Mergers & Acquisitions- Commercial Property Assessed Clean Energy, or CPACE financing, which allows commercial property owners to borrow money for energy efficiency, renewable energy generation, water conservation and other upgrade projects, is a growing market, and is largely being provided by private equity firms.
According to the CPACE Alliance, anon-profit that works to increase the volume of quality projects, this loan market is growing nicely (see chart below). The market hit over $10 billion in total originations by the end of 2024.
Jared Schlosser, the executive vice president and head of hotel originations and CPACE at Atlanta PE firm Peachtree Group, says the firm has averaged 25 percent year-over-year growth since it started CPACE lending at the end of 2019. He expects the market to grow as more states get access to CPACE.
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