Loan Type
Bridge Loan
3 Years
C-PACE Financing
30 Years

Ocean Center Luxury Apartments

Long Beach, California

X-Caliber Funding provided a short-term bridge loan and CastleGreen Finance provided a C-PACE financing that resulted in a lower cost, more efficient capital stack with long-term, fixed-rate financing. The structure also helps decrease overall operating costs while supporting energy efficiency and sustainability.

The Opportunity

The financing is part of a historic renovation project led by Pacific6 Enterprises, a firm that focuses on projects that bring positive economic and social advancement to their local communities. They purchased the vacant office building in 2018 and have worked to obtain the property’s necessary entitlements and permits while completing other unrelated renovations.

The Solution

A short-term renovation loan combined with a C-PACE structure was recommended that not only provided borrowers with long-term, low-cost, fixed-rate financing, but will provided for significant energy upgrades, reduce greenhouse gas emissions, and create significant cost savings over the life of the financing.

The Companies

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