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New York & Tri-State  + Fairfield/Westchester  + Finance  | 

Impact Lenders X-Caliber, Castle Green in Two CRE Clean Energy Loans Totaling $68M

Irvington, NY-based X-Caliber Capital, a national, direct commercial real estate lender focused on impact lending, announced its affiliate companies, X-Caliber Rural Capital, XRC, and CastleGreen Finance, closed two large transactions through a combination of USDA/Commercial Property Assessed Clean Energy, C-PACE, financing. 

The separate transactions totaled $68.2 million and financed a hotel and a multi-tenant senior medical care property in two states.

In the first transaction, the two affiliates provided a total of $36 million to finance The Inn at Bellefield located in Hyde Park, NY. XRC provided $25 million through a USDA Business & Industry Guaranteed Loan and CastleGreen provided $11 million of C-PACE financing. Mike Spachman, SVP, CastleGreen Finance, originated the transaction.

In the second transaction, the two affiliates provided a total of $32.2 million to finance the Milford Wellness Village, a multi-tenant medical space that supports Delaware’s Milford, Kent and Sussex counties. XRC provided $25 million through a USDA Business & Industry Guaranteed Loan and CastleGreen provided $7.2 million of C-PACE financing.

The property includes a 150-bed skilled nursing facility and is owned by a highly experienced operator. Scott Crimmins, SVP, CastleGreen, originated the transaction.

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About Ted Jackson

A highly successful financial journalist, corporate financial writer and magazine entrepreneur with strong expertise in writing on fixed income and pass-through securities (ABS), finance and banking, the economy, economic developments, financial markets, investing and personal finance, the business of behavioral healthcare and more.

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