By Jim Butler, David Sudeck
Hotel finance lawyer: PACE Financing is now mainstream
Over the past five years, PACE financing has gained wider acceptance, and moved from a novel technique to a mainstream practical solution for financing. For more background on what PACE financing is, why it can be attractive, why it is becoming more popular and how JMBM’s attorneys can help, see PACE Financing – Now an accepted tool for hotel lenders and borrowers.
Our lawyers are at the leading edge of this important new trend. And we think that sharing some of our client’s successes with PACE financing may help others evaluate this tool for their own needs. So this is one in a series of successful PACE financing closings.
David Sudeck of the Global Hospitality Group® at Jeffer, Mangels, Butler & Mitchell LLP recently worked with a PACE financing source to close a retroactive $6 million PACE loan for the 105-room Kimpton La Peer Hotel in West Hollywood, CA. The property includes a full-service restaurant, pool and rooftop deck.
Hotel: Kimpton La Peer
Location: West Hollywood, CA
Size of PACE Loan: $6 million
How we can help with PACE financing
PACE lending has become an important and fast-growing sub-specialty in our hotel finance capabilities. We work with PACE providers/lenders and borrowers. In fact, we have been fortunate enough to work with one of the leading providers of PACE financing as they expand their national platform.
We welcome inquires to see if we can help you evaluate potential PACE financing opportunities.
For PACE financing and other hotel finance-related inquiries, contact David Sudeck, at 310.201.3518 or [email protected]