News Updates from PACE Equity

PACE Equity

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22Oct 2019

PACE Equity Funds EVEN Hotel and Staybridge in Rochester, MN

23Sep 2019

PACE Equity Funds New Detroit Cambria Hotel, the First New Construction and Largest PACE Project in Michigan

PACE Equity funded $7 million in capital for a 154-room Cambria hotel in downtown Detroit, a new construction and partial redevelopment project that transforms an underutilized building and contributes to the connectivity on the west side of Downtown Detroit’s Central Business District. The project is notably the first Cambria hotel to enter the […]
30Jul 2019

PACE Equity Funds Low Cost Capital for Select Service Hotel

Utilizing its dedicated fund, PACE Equity provided $2.3 million in capital for the construction of a new SpringHill Suites by Marriott, a 120-key hotel in Tallahassee, Florida that is part of the expanding select service segment of the hotel industry. Select service hotels have been gaining popularity with developers due to their high consumer […]
16Jul 2019

Kansas City’s Historic Flashcube Building Redevelopment Utilizes PACE Equity Funding to Complete Capital Stack

PACE Equity completed funding as part of a complex capital stack for the redevelopment of downtown Kansas City’s iconic Flashcube building. The former Executive Plaza Office Building, which sat vacant for over 12 years, features a 184-unit multi-family luxury apartment and 35,000 square feet of commercial space for office and retail tenants. The […]
27Jun 2019

PACE Equity Deal First in Nation to Combine PACE Funding and an Opportunity Zone Fund

PACE Equity recently completed funding $4.3 million for the construction of a new Hyatt House hotel in Rochester, Minnesota. It is notably the first Opportunity Zone fund project in the nation to include PACE funding to date. The new federal Opportunity Zone program, part of the December 2017 Tax Cuts and Jobs Act, was established to spark […]
12Jun 2019

Building owners use PACE Equity funding to achieve business plan

PACE Equity provided a creative capital solution for building owners to turn vacant building into a green office and retail space in South Denver PACE Equity recently completed funding to finance energy efficient upgrades for the complete renovation of a 1920s J.C. Penney building that will be transformed into 3400 SOBO, a flex-office and -retail […]
16May 2019

PACE Equity Brought in Midway through Construction to Fund Isanti Best Western Plus

PACE Equity recently completed funding for the new construction of the Best Western Plus hotel in Isanti, Minnesota. Midway through construction, the developer required additional funding in order to meet forthcoming hotel flag standards and avoid renovations down the line. PACE Equity provided a turnkey solution by stepping in midstream to […]
25Mar 2019

Ron Adachi of PACE Equity Promoted to Vice President of Hospitality

PACE Equity is pleased to announce that Ron Adachi has been promoted to the newly created position of Vice President of Hospitality. Ron brings 15 years of experience in commercial real estate brokerage, real estate development, hospitality and EB-5 financing to the team. In his new role, Ron oversees hospitality strategy and assists his local […]
26Feb 2019

PACE Equity Funds New AC Hotel by Marriott to Revitalize Downtown Little Rock, Arkansas

PACE Equity completed funding for a new AC Hotel by Marriott to be located in downtown Little Rock, Arkansas, expected to be complete in the summer of 2019. The 114-key boutique hotel will occupy the vacant Hall-Davidson buildings, built in 1923, accompanied by a 5,000-square-foot restaurant and lounge. The project is helping revitalize downtown […]
31Jan 2019

PACE Equity Funds Largest New PACE Construction Project in Ohio

PACE Equity recently completed funding for the largest new PACE construction project in Ohio, a highly sustainable new Homewood Suites and Hilton Garden Inn to be constructed in Easton. The project reflects the developer’s commitment to the environment while meeting demands of the new generation of green travelers. The 175,000 square-foot, 240-key […]

 


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