$ 42 million PACE loan for citizenM Los Angeles – Hotel Law Blog – May 4, 2021
May 4, 2021
Find out how JMBM’s Global Hospitality Group® can help.
Click here for the latest articles on PACE Funding.
Over the past five years, CAPC funding has gained wider acceptance and has shifted from a new technique to a common, practical funding solution. For more information on what PACE Commercial Finance (or C-PACE Funding) is, why it can be attractive, why it is becoming more and more popular, and how the lawyers at JMBM can help you, see PACE Financing. – Now an accepted tool for hotel lenders and borrowers.
Now that New York City has released guidelines for funding PACE, there are even more opportunities to make the most of this strategy – see our upcoming rules article here.
David Sudeck and his Global Hospitality Group® team at Jeffer, Mangels, Butler & Mitchell LLP managed a $ 42 million PACE loan for the 315-room citizenM hotel in downtown Los Angeles. The property features a restaurant, meeting space and a 24-hour gym.
Hotel: citizenM Los Angeles Downtown
Location: Downtown Los Angeles, California
PACE loan size: $ 42 million
How we can help you with PACE funding
PACE loans have become an important and rapidly 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 PACE funding providers as they expand their national platform.
We welcome inquiries to see if we can help you assess potential PACE funding opportunities.
For PACE funding and other hotel funding related inquiries, contact David Sudeck at 310.201.3518 or [email protected]
David Sudeck is a senior member of JMBM’s Global Hospitality Group® and JMBM’s real estate department. His practice is primarily concerned with complex issues associated with hotels, resorts, vacation properties (including shared ownership, destination clubs, timeshares, fractionals and private residence clubs), restaurants (including agreements chef’s advice), golf courses and spas.
A seasoned real estate lawyer, David has extensive legal experience in all types of residential and commercial properties. He represents owners – including hospitality clients – in the buying and selling, development, construction, financing, rental and leaseback of properties, and advises them on their operations and agreements. management, including hotel management agreements. Contact David Sudeck at 310.201.3518 or [email protected]
This is Jim butler, author of www.HotelLawBlog.com and founding partner of JMBM and JMBM’s Global Hospitality Group®. We provide business and legal advice to hotel owners, developers, independent operators and investors. This advice covers critical hotel issues such as hotel buying, selling, development, financing, franchising, management, ADA, and intellectual property issues. We also have compelling experience in hotel litigation, avoidance and union negotiations, as well as cybersecurity and data privacy.
JMBM’s Global Hospitality Group® has helped customers around the world with more than 4,300 hotel properties valued at over $ 104.7 billion. contact me at + 1-310-201-3526 or [email protected] to discuss how we can help you.
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