Petros Pace Finance Closes Largest C-Pace Deal In History With $153 Million Financing Towards $820 Million Black Desert Resort Project
Petros Pace Finance Closes Largest C-Pace Deal In History With $153 Million Financing Towards $820 Million Black Desert Resort Project
10/03/22, 1:06 PM
Location
kenmoreMoney raised
$153 million
Industry
commerce and shopping
financial services
information technology
Petros PACE Finance (Petros), the largest C-PACE provider in the country and a leader in innovative and structured finance, today announced that it has closed on a record $153 million C-PACE financing as part of the $820 million, 580-acre world-class development, Black Desert Resort Project in Ivins, Utah. Located near Zion National Park in one of the fastest growing metropolitan areas in the country, Phase 1 of Black Desert Resort will include a luxury resort hotel, approximately 1,000 condos, 190,000 square feet of retail, restaurants, and commercial space, 25,000 square feet of event space, a full clubhouse, and a Tom Weiskopf-designed 19-hole golf course. The development is currently under construction and upon completion will be the largest hospitality offering in the state of Utah. Phase I of the project is set to open in the fall of 2024.
Company Info
Location
kenmore, washington, united states
Additional Info
Petros PACE Finance, LLC is the national leader in the C-PACE marketplace, dedicated solely to providing long-term C-PACE financing to commercial property owners seeking to lower energy costs, reduce their carbon footprint and increase property values and meet environmental, social and governance (ESG) goals. Its leadership team has decades of executive-level experience in private credit and structured finance, with direct long-term institutional investor relationships. With billions in committed capital, Petros is able to close transactions in eligible C-PACE markets nationwide. To learn more about Petros PACE Finance visit our website at www.petros-pace.com.
SOURCE Petros PACE Finance, LLC