Bart Blatstein Of Tower Investments Secures $45.5M Loan From Jerry Ellis Of PACE Loan Group

The asset involved in this transaction is a commercial property located at 801 Atlantic City Boardwalk in the Atlantic City market. A C-PACE loan amounting to $45,500,000 has been secured for this property, facilitating the recapitalization of the Island Waterpark at Showboat.

Summary of transaction details:

• Property Type: Commercial
• Transaction Amount: $45,500,000
• Lender: Jerry Ellis - PACE Loan Group
• Landlord: Bart Blatstein - Tower Investments

Jerry Ellis represents the PACE Loan Group in this deal, while Bart Blatstein is the landlord, representing Tower Investments. The loan marks a significant milestone as it is the first deal executed under New Jersey's new C-PACE program, which supports sustainability upgrades in commercial properties.