November Newsletter

The Ravella at Ormond Beach is a new 3 story Senior Living community in Ormond Beach, Florida.

CPACE BRIDGE LOANS

One of the largest areas of growth for CPACE has been our “Retroactive CPACE” product. In most states, borrowers are able to secure CPACE financing for up to three years after construction completion. This “Retroactive CPACE” product is frequently used by borrowers who have had cost overruns, or who are looking for a low cost, fixed rate bridge option that provides the property time to stabilize before going out for permanent debt.

Visit our website for more information

HOTEL DEVELOPERS TURNING TO PACE

We are seeing trend of growing interest in CPACE among hotel developers. With hospitality having a high percentage of eligible upgrades covered through PACE, it's a perfect option for owners. Bayview PACE has the ability to originate from our Bridge and Construction Loan programs. This unique offering has been attractive to hotel developers as traditional banks are pulling back due to the current market forecast.

Learn more about CPACE here.

CPACE IS ACTIVE AGAIN IN NYC

NYCEEC has released the updated program documents for CPACE renovations and retrofit projects in NYC.

This is great news for property owners and developers looking for low cost, fixed rate options for renovations or to meet LL97 energy requirements. New construction and Major renovation projects are still on hold until new guidelines are issued, hopefully sometime in 2024. Stay tuned for program updates!

Visit our website for more state by state details here.

PHILADELPHIA CPACE

Has expanded it's CPACE program to include

Resiliency and Indoor Air Quality Measures

Additionally, Multifamily is now eligible for CPACE in the city of Philadelphia and will soon launch state wide.

• Any commercial property in Philadelphia

• Multifamily rental housing (5+ units)

• New construction projects

Download the program guidelines.

UPCOMING CONFERENCES

Interface Senior Housing Northeast Philadelphia

November 30, 2022 - Sheraton Philadelphia, Downtown

More info

ATTENDING

Anne Hill, SVP: [email protected]

Fred Lee, SVP: [email protected]

Lets connect!

4425 Ponce de Leon, Coral Gables, FL 33146 • 844-518-2343

Bayviewpace.com

Bayview PACE, a division of Silver Hill Funding NMLS #1564077. Arizona-Commercial Mortgage Broker License #0944445, Equal Housing Lender, LLC, offers fixed-rate, non-recourse financing to help owners fund environmentally-efficient upgrades for both existing properties and new construction. We’re on a mission to make C-PACE solutions attainable and advantageous for property owners in all participating states.