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Green Pace Closes $45M C-PACE Deal for Koreatown MXU

San Diego-based Green Pace Financial, Inc. and its affiliate Hoover Financial, Inc. closed on $44.5 million in PACE approved construction financing for Live, Work, Create Equity, LLC to construct a new 126-unit luxury multifamily development in Los Angeles’ Koreatown. The combined 80% loan-to-cost non-recourse financing included $14.5 million in C-PACE energy saving financing.

Green Pace Financial’s Shawn Heyl says, “We’re excited to be part of the historically high growth the culturally diverse neighborhood of Koreatown is experiencing, and look forward to being a long-term financing partner for the developer on future projects.”

The balance of the C-PACE approved financing for the project was in the form of a new $30-million senior construction loan, also non-recourse, provided by one of Green Pace Financials most active private equity construction lenders. Construction on the project at 2870 Olympic Blvd. is expected to commence this summer.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Financing
  • ◦Development
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