Notable Recent Transactions

Recent transactions financed through CastleGreen Finance, in partnership with its affiliate X-Caliber, have successfully funded a series of recent property transactions through C-PACE financing. This underscores their leadership and versatility in the real estate financing landscape. CastleGreen Finance is pivotal in structuring and providing the financial resources needed for various projects, from innovative new construction developments to comprehensive retrofitting of existing properties.

Their expertise in deploying C-PACE financing—an innovative mechanism that allows property owners to finance energy-efficient upgrades and sustainable building improvements—demonstrates their commitment to promoting sustainable development. This approach aligns with the growing demand for environmentally responsible projects and significantly enhances the value and performance of the properties involved.

Through these ventures, CastleGreen Finance, through C-PACE financing programs, provides the capital necessary to realize these projects while aligning itself with the broader objectives of reducing energy consumption, minimizing environmental impact, and promoting the adoption of renewable energy sources. The underlying characterizations of these recent transactions showcase CastleGreen’s dedication to advancing sustainable energy solutions within the commercial real estate market, highlighting its role as a key player in shaping a more sustainable and energy-efficient future.

By utilizing C-PACE financing, CastleGreen Finance enables property owners and developers to access flexible, long-term financing solutions that cover a substantial portion of project costs, thereby reducing upfront capital expenditures and improving cash flow. These financing options are particularly valuable for projects incorporating renewable energy, water conservation measures, and other sustainability features that contribute to reduced operating costs and increased asset value over time.

Through their strategic financing solutions, CastleGreen Finance empowers developers and property owners to advance their sustainability goals, while simultaneously driving economic growth within the commercial real estate sector. This dual impact highlights CastleGreen Finance’s crucial role in not only facilitating diverse property transactions but also in advancing the industry’s shift towards greener, more sustainable development practices.

and XRL ALC, LLC have provided:

$285,000,000 of financing comprised of a $65,000,000 C-PACE assessment and a $220,000,000 construction loan to Oasis at Lakeport, LLC, and Lakeport Hotel, LLC for the construction of Oasis at Lakeport Resort, a 401-room full-service Marriott hotel with a 30,000sqft conference center, an indoor waterpark and an outdoor amusement park located in Osage Beach, MO. The C-PACE financing will be utilized for energy, water efficiency, resiliency and fire safety improvements, development costs, capitalized interest, and related C-PACE fees and costs.

Oasis at Lakeport, MO

and Affiliate X- Caliber have provided:

$11,750,000 Total Construction Financing comprised of a $4,005,000 C-PACE financing and a $7,745,000 mortgage loan to Brookwood Taylor Estates Acquisition, LLC, for the development of Brookwood Estates – Taylor, for the construction of 15 single story buildings, totaling 60 units, age-restricted (55+) multifamily community located in Taylor, Michigan.

Brookwood Taylor Estates, Taylor, MI

and XRL ALC, LLC have provided:

$162,200,000 of property financing, comprised of $75,000,000 of C-PACE assessment and a $107,200,000 construction loan to Mayflower LLC for the development of Marcella Landing, a condominium development consisting of 28 units, located in Park City, UT. The C-PACE financing will be used for development, including water- and energy-efficient improvements, seismic-resiliency strengthening, capitalized interest, and related fees and costs.

Marcella Landing Ski Resort, Park City, UT

has provided:

$4,380,000 C-PACE Energy Efficiency Improvement Financing to Dutchess Partners, LLC, for The Promenade at Fishkill, a proposed 150-unit (224-bed) senior housing facility located in Fishkill, NY. The proceeds of the financing will be utilized for energy efficient improvements, capitalized interest, and all related fees and costs.

Promenade at Fishkill, Fishkill, NY

has provided:

$12,120,000 Total Financing based on C-PACE Assessment of The Omni Vitalia at Rockside, an independent/assisted living/memory care facility, managed through Northfield Capital. CastleGreen utilizes C-PACE Invaders II for this relationship. The retroactive financing is for energy and water efficiency. C-PACE financing is for capitalized interest, origination costs, and a reduction of existing construction financing.

Omni Vitalia – Rockside, Seven Hills, OH

has provided:

$5,490,000 C-PACE Construction Financing based of assessment to 880 West MacArthur LLC for a mid-rise apartment building located in Oakland, CA. The C-PACE financing will be used to complete construction of the eligible improvements, including seismic resiliency, energy and water efficient improvements that have already been installed, as well as capitalized interest and related C-PACE fees and costs.

880 West MacArthur, Oakland, CA

and Affiliate X- Caliber have provided:

$28,400,000 total Financing comprised of $24,416,000 Property Loan and a $3,984,000 C-PACE Energy Improvement Construction Financing for the installation of a 1,029 kW photovoltaic array and 500 kW battery energy storage system and resiliency improvements at an almond processing and storage facility located at 3211 Aviation Dr, Madera, CA.

California Custom Processing, Madera, CA

and Affiliate X- Caliber have provided have provided:

$122,200,000 total Financing comprised of $57,750,000 in C-PACE financing and a $48,500,000 construction loan and a $15,950,000 historic tax credit bridge loan to Breakers Fairmont property for redevelopment and landmark renovation, including energy efficiency upgrades and seismic mitigation measures, including LED interior/exterior lighting, high performance HVAC systems, and upgrading walls/windows.

Breakers Hotel – Fairmont, Long Beach, CA

has provided:

$9,475,000 C-PACE Construction Loan Financing comprised of C-PACE financing to The Monsaraz Tapestry Collection by Hilton, a recently constructed 92-room, full-service hotel that operates under the Tapestry brand of Hilton. The Property features a restaurant, lounge, terrace bar, lobby, and meeting space. Loan proceeds will be utilized to pay off the existing debt and related C-PACE financing costs.

Monsaraz Tapestry, San Diego, CA

has provided:

$2,325,000 C-PACE Energy Efficiency Improvement Financing based on an assessment of the Property, is a two-story building located on a 0.30-acre site in Litchfield, CT, facing the town green, and will be redeveloped into a two-story, 20-room, full-service boutique hotel with an upscale restaurant and a rooftop bar and lounge. Financing will be used for energy-efficient improvements.

Litchfield Courthouse Hotel, Litchfield, CT

and affiliate X-Caliber have provided:

$32,210,000 Total Financing comprised of $25,000,000 Property Financing and $7,210,000 C-PACE Renovation Financing for converting the former Milford Memorial Hospital to a nursing/rehabilitation center with energy upgrades, e.g. LED lighting, efficient HVAC systems, automated control systems, and low-flow plumbing.

Milford Village Wellness, Milford, DE

has provided:

$2,380,100 C-PACE Construction Financing secured by a property assessment on a 221,001 SF hydroponic greenhouse on 40 acres of land consisting of the original 50,500 SF structure and a 170,501 SF expansion at 4500 & 4501 E Basford Road, Frederick, Maryland. Financing will be used for energy-efficient equipment measures, including boilers, chillers, and cooling towers.

District Farm, Frederick, MD

and affiliate X-Caliber have provided:

$52,000,000 total financing comprised of $35,000,000 Property Financing and $17,000,000 C-PACE New Construction Financing for the installation of efficient HVAC systems, wall/roof/window upgrades, LED interior and exterior lighting, seismic reinforcements, and low-flow plumbing. The Property will consist of a 254,000 sq. ft. industrial refrigerated storage building as the first phase of a two-phase development on the site.

Origo Cold Storage (case study), Madera, CA

has provided:

$1,500,000 in C-PACE Renovation Financing dedicated to seismic retrofitting upgrades, strengthening the structural integrity of the property. The interest rate for the financing will be determined seven (7) days prior to the scheduled financing closing date, fixed at the greater of the 20-year treasury yield +339 bp or 5.75%.

Hyatt House Hotel, Davis, CA

has provided:

$2,100,000 C-PACE Renovation Financing for the conversion of 29 of the 42 townhouses into a total of 89 rental units. C-PACE Renovations include energy efficient interior lighting, efficient heating and cooling systems (with water heaters). Energy efficiencies will reduce approximately 46,000 pounds of CO2 annually.

Temple Street Apartments, Hartford, CT

and XRL ALC have provided:

$26,270,00 total Financing comprised of $6,270,000 of C-PACE financing and a $20,000,000 construction loan to Silverthorne HIE, LLC. For the development of Holiday Inn Express, Silverthorne, a four-story hotel located in Silverthorne, CO. C-PACE financing is for energy and water efficient improvements, capitalized interest, and related C-PACE financing fees and costs.

Holiday Inn Express, Silverthorne, CO

has provided:

$2,655,318 total financing comprised of C-PACE Renovation Financing for Walden Galleria mall, which is being redeveloped for multi-tenant use. The proceeds of the financing will be utilized for energy efficient improvements, capitalized interest and all related C-PACE financing fees and costs associated with the renovation of the property.

Walden Galleria-Primark, Cheektowaga, NY

has provided:

$13,700,00 in C-PACE Renovation Financing is for converting the Sisters of St. Joseph convent into 292 apartments. Removal of asbestos containing materials, and upgrading ceilings, floors, heating ducts, pipe-fitting insulation, and boiler housing. Additionally, installing energy efficient LED interior lighting, high performance efficient HVAC and heating systems.

One Park Road (case study),W. Hartford, CT

and affiliate X-Caliber have provided:

$94,000,000 Total Financing comprised of $48,500,000 Property Financing and $45,500,000 C-PACE Renovation Financing for energy efficiency upgrades and seismic mitigation, including LED interior/ exterior lighting, high performance HVAC systems, roof/walls/ windows, low-flow faucet and DHW heater, energy effective pool pump/heater, and elevator upgrades.

Breakers Hotel, Long Beach, CA

and affiliate X-Caliber have provided:

$36,000,000 Total Financing comprised $25,000,000 Property Financing and $11,000,000 C-PACE New Construction Financing for energy efficiency upgrades, including LED interior/exterior lighting, high efficiency HVAC systems, Building Envelope (roof/walls/windows), low-flow plumbing and DHW heater.

Inn at Bellefield (case study), Hyde Park, NY

has provided:

$2,140,000 C-PACE Improvement Construction Financing comprised of retroactive financing for the energy and water efficiency installations during the construction of the Property. Financing will be used for roof, wall and window upgrades, interior and exterior lighting, low faucet fixtures, heating and HVAC upgrades.

Laurels of Lake Orion (case study), Lake Orion, MI

and affiliate X-Caliber have provided:

$54,970,000 Total Financing comprised of $34,360,000 Property Financing and $20,610,000 C-PACE Renovation Financing for recapitalizing/renovation of the landmark building for energy efficiencies and seismic mitigation, including efficient LED interior/exterior lighting, seismic strengthening, new HVAC systems, low-flow faucets, DHW heating, and elevator upgrades.

Ocean Center Apartments (case study), Long Beach, CA

and Affiliate X- Caliber have provided have provided:

$11,750,000 Total Construction Financing comprised of a $4,005,000 C-PACE financing and a $7,745,000 mortgage loan to Brookwood Taylor Estates Acquisition, LLC (“Borrower”) for the development of Brookwood Estates – Taylor, for the construction of 15 single story buildings, totaling 60 units, age-restricted (55+) multifamily community located in Taylor, Michigan.

Hotel Willa, Taos, NM