Bayview PACE Secures $15.6 Million Loan For Development Site At 3989 North Shore Drive

The asset involved in this transaction is a development site located at 3989 North Shore Drive in Bryan. The site is designed for a speculative office project named The Lumin, encompassing a total building size of 103,000 square feet and set within the 350-acre Lake Walk development. The project will include ground-floor retail space and an onsite parking garage, with expectations for completion by spring 2027.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $15,600,000
• Lender: Bayview PACE
• Landlord: Spencer Clements - William Cole Companies

The financing transaction was secured by Bayview PACE, which has provided $15.6 million in C-PACE financing for the project. This funding will support the construction of the development site, contributing to the expansion of office space in the Bryan market.