$33.7 Million C-PACE Financing Ensures Long-Term Stability for San Francisco’s Four Seasons Embarcadero Hotel
Four Seasons Embarcadero Hotel, a recently renovated and rebranded luxury property in the heart of San Francisco
SAN FRANCISCO -- The renowned Four Seasons Embarcadero Hotel, a newly renovated luxury establishment in the heart of San Francisco, has successfully secured $33.7 million in Commercial Property Assessed Clean Energy (C-PACE) financing. This funding will facilitate sustainable upgrades to the hotel's plumbing, building envelope, and electrical systems. This transaction arrives at a crucial time for the 155-key hotel, located at 222 Sansome Street, which was facing the threat of foreclosure prior to the completion of this deal.
The C-PACE funding will enable enhancements aimed at improving energy efficiency and bolstering long-term sustainability, underscoring the hotel’s commitment to modern, environmentally responsible hospitality as one of San Francisco's premier luxury venues.
"This transaction showcases the effectiveness of CounterpointeSRE's innovative financing solutions in preserving historic properties and aiding the revitalization of San Francisco's hospitality industry," stated Eric Alini, CEO of CounterpointeSRE.
In strengthening its hospitality lending capabilities, CounterpointeSRE has welcomed industry veterans Gavin Elwes, Jo Hastings, and Kyle Geoghegan to its team.
C-PACE financing is tailored to support energy-efficient and sustainable building upgrades. It allows property owners to repay costs through a designated property tax assessment, facilitating long-term investments in infrastructure without the pressures associated with traditional debt.
Preserving Essential Economic Assets
Situated on the upper floors of a historic high-rise, the Four Seasons Embarcadero Hotel boasts breathtaking views of the city and San Francisco Bay. Following its extensive renovations, the hotel remains a highly desirable destination for business and leisure travelers alike.
This transaction underscores the increasing importance of C-PACE financing in urban areas grappling with economic challenges. The hospitality sector has been identified as the largest asset class utilizing C-PACE for both new constructions and recapitalizations. With this financial backing, the Four Seasons Embarcadero is poised for sustainable success as it retains its status as a top luxury destination in San Francisco.
About CounterpointeSRE
CounterpointeSRE operates at the crossroads of the commercial real estate and energy sectors, providing mortgage, C-PACE, and other energy-related financial products. As a portfolio company of MassMutual, we focus on delivering comprehensive sustainable finance solutions to commercial real estate owners and operators.
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