Pace Loan Group - c pace lending

Washington SpringHill Suites

C-PACE AMOUNT
$13M
Property Type
Hospitality
Project Type
New Construction
STATE
Washington
Washington SpringHill Suites

Property Description

Washington SpringHill Suites is a 128-room Marriott hotel located off the Pacific Highway adjacent to Joint Base Lewis-McChord (JBLM)—the U.S. Department of Defense’s premier military installation on the West Coast and the largest employer in Pierce County.

Loan Usage

The C-PACE loan was used to finance improvements tied to the property's construction, including HVAC and lighting systems and controls, which are expected to generate $114,371 in annual operational savings. The project also received $11.5 million from 1st Security Bank, with a total capital stack of $37.6 million.

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