Updated Dec 4, 2024
GreenRock Capital And Petros PACE Finance Provide $62.6M Construction Loan For Appellation Healdsburg Hotel
101 Dovetail Ln
$62,600,000
Building Size
—
Asset Type
Development Site
Closing
Nov 13, 2023
About this deal
AI
The Appellation Healdsburg hotel project in Sonoma County has secured a $62.6 million construction loan through C-PACE financing. The luxury boutique hotel, set to open in 2025, will prioritize sustainability with the support of environmentally conscious construction and job growth.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $62,600,000
- Lender: GreenRock Capital - Chris Robbins, Petros PACE Finance - Mansoor Ghori
- Landlord: CCS Healdsburg Hotel, LLC; Comstock Development Company - Robert Comstock & Nicholas Long; Wine Country Holdings; HVH Investment
- Loan Type: Construction Loan
GreenRock Capital, represented by Chris Robbins, and Petros PACE Finance, represented by Mansoor Ghori, have successfully closed a $62.6 million C-PACE financing for the construction of the Appellation Healdsburg hotel project in Sonoma County. The hotel will be developed by CCS Healdsburg Hotel, LLC, Comstock Development Company (represented by Robert Comstock and Nicholas Long), Wine Country Holdings, and HVH Investment.
Players
Healdsburg Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93