C-PACE Loan Used for DC Partners Houston Mixed-Use Project

Lone Star PACE facilitated $46.6 million in C-PACE financing for a new mixed-use development near Houston’s Buffalo Bayou Park. C-PACE helps reduce energy consumption at commercial and industrial buildings by providing low-cost, long-term financing for sustainable upgrades. Improvements covered by the loans include building envelope, lighting, HVAC and plumbing upgrades. The loan allowed property owner DC Partners to retire construction debt, and also investment in its buildings.

A more than $31 million loan was administered for The Thompson, a 172-room luxury hotel at 1711 Allen Parkway. Another loan of more than $15 million was issued for an adjacent 53,000-square-foot retail pavilion at 1755 Allen Parkway.

The Thompson Hotel anchors The Allen, a luxury mixed-use destination spearheaded by international real estate development and investment firm DC Partners. The adjacent mixed-use pavilion includes retail, fine dining, and a health and fitness club. A 99-unit condo tower is also on-site.

Lone Star PACE partnered with lender Nuveen Green Capital to administer the financing.