Bayview PACE Provides $5M Refinance Loan For 19-Unit Condo Project In Pasadena

A 19-unit condo project located at 150 South Oak Knoll in Pasadena has secured $5 million in C-PACE financing from Bayview PACE. The project, developed by Nor Brand III LLC, will consist of one and two-bedroom units with private rooftops. Construction is set to begin soon with a target completion date in late 2024.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $5,000,000
• Lender: Bayview PACE
• Landlord: Nor Brand III LLC
• Loan Type: Refinance

Bayview PACE provided $5 million in C-PACE financing for the development of a 19-unit condo project at 150 S. Oak Knoll in Pasadena. Nor Brand III LLC is the developer behind this project, which will feature one and two-bedroom units with private rooftops. The construction is expected to commence soon, aiming for completion by late 2024.