PACE Loan Group Closes $22.4M in
C-PACE to Refinance Construction
Costs for LA Office

Los Angeles-based Center Capital Partners and Abramson Investors received a $22.4 million C-PACE loan from PACE Loan Group (PLG) to refinance improvements completed on their newly constructed 72,000 sq. ft. Class-A creative office opportunity zone development on 5237 W. Jefferson Blvd in Los Angeles, California. The $22.4 million C-PACE will amortize over 30 years, allowing payback for original investments during construction. 

This financing will refinance construction costs for the office component of the mixed-use development, which also includes hotel, multifamily, and retail elements. The 12-story building sits on a 2.31-acre lot in LA’s Chinatown neighborhood. The building is also strategically positioned within walking distance of both Metro’s Jefferson / La Cienega Station and Metro’s Expo / La Brea Station, making it an ideal location for travel from Los Angeles, Santa Monica, and Culver City.

"This project exemplifies the value of C-PACE as a smart tool for developers looking to reduce equity needs and refinance with long-term, fixed-rate capital," said Rafi Golberstein, CEO of PACE Loan Group. “It highlights how PACE funding in California continues to support forward-thinking development.”

The $22.4 million PACE loan was used to retire a portion of the project’s construction debt, providing the developer with more financial flexibility and fixed-rate stability. The deal reflects PLG’s growing activity in PACE financing California, especially for office and mixed-use projects.

PLG worked closely with the program administrator under the California Statewide Communities Development Authority (CSCDA), a leading authority for PACE programs in California.

This is PLG’s fourth deal in California and its second in Los Angeles, building on its momentum in the California C-PACE market, including activity in cities like San Diego.

As interest in C-PACE lending grows, especially in San Diego, LA, and other major metros, developers are turning to PACE financing in California as a cost-effective option for capital stack solutions.

Media Contact:

Martha Nevanen

Martha@paceloangroup.com

651-492-5861