Petros PACE Finance LLC “closed a $3.5 million commercial property assessed clean energy (C-PACE) transaction” with Columbus developer Continental Hospitality Group (CHG) for the $20-million, 152-room Hyatt House in the Harrison West Founders Park development, Columbus Business First reports. This is the second project for which CHG has obtained C-PACE funding; the first was a $16.3-million transaction for a Marriott hotel project near The Ohio State University (see our December 14, 2018 blog post). In a news release announcing the deal, Petros PACE Finance CEO Mansoor Ghori said, “Ohio has emerged as one of the fastest growing C-PACE markets thanks to developers like Continental Hospitality Group, who are taking advantage of C-PACE as a low-cost source of capital that allows them to maximize the efficiency designs of their properties.” For more, read the full article and the full news release.
Columbus developer secures $3.5M in C-PACE financing for $20M Hyatt House
