Polsinelli recently represented Bayview PACE, a division of Silver Hill Funding, LLC, in closing $137 million in commercial property assessed clean energy (C-PACE) funding for the development of the $420 million Westin Cocoa Beach Resort & Spa. This transaction marks the largest C-PACE deal ever in Florida and the third largest in the United States hospitality sector. 

Located on 500 linear feet of beach on one of the last oceanfront sites in the region, the new Westin will feature 69 suites among its 502 rooms in the main property along with 11 food and beverage venues, a full-service spa & fitness center, resort amenities including pools, cabanas, fire pits, sports and game options, kids pool and playground as well as 123,700 square feet of indoor/outdoor meeting and event space.

More information about this transaction can be found here.

Real Estate Finance Shareholder Daniel W. Graves led the Polsinelli team on this transaction.

About Bayview PACE

Bayview PACE offers creative financing solutions that combine construction, bridge and CPACE lending. Unlike most PACE-only providers, Bayview PACE works with commercial property owners and developers to provide a full capital stack solution. Bayview PACE is a division of Silver Hill Funding, LLC. NMLS#1564077 www.nmlsconsumeraccess.org  Please visit www.bayviewpace.com.