#United States #Park City #C-PACE financing #Clearwater PACE #Ameyalli Resort

Clearwater PACE Closes $33 Million for Ameyalli Wellbeing Resort

Clearwater PACE, a leading principal lending platform focused on Commercial Property Assessed Clean Energy (C-PACE), has announced a significant achievement with the closing of a $33 million financing for the Ameyalli Wellbeing Resort. This luxury wellness destination is currently being developed near Park City, Utah, and represents a noteworthy addition to the region's established hospitality market.

Innovative Financing Structure

The financing structure employed by Clearwater PACE is particularly innovative, creating a long-term, fixed-rate senior-secured obligation. These funds are collected as a line item on the property tax bill, ensuring that they take precedence over all property debts, with the exception of real estate taxes. Notably, the proceeds are designated specifically for energy efficiency initiatives that are integral to the resort's construction budget.

In conjunction with the C-PACE financing, an EB-5 component was incorporated, complemented by sponsor equity, which completed the capital stack necessary for this multifaceted project. Such financing demonstrates a commendable effort to literally build wellness into the physical framework of the resort, enhancing its environmental sustainability and operational efficiency.

A Stalwart in a Competitive Environment

As the C-PACE market evolves, Clearwater demonstrates its adaptability by utilizing the funding to optimize its competitive advantages within the construction lending sector, which has recently seen constraints. Jonathan Seabolt, CEO of Clearwater PACE, emphasized how Ameyalli signifies the maturation of the C-PACE market into a structured credit product.

He noted, "The long-tenor, fixed-rate, senior-secured proceeds have become a core structuring tool for ground-up construction and significantly lower the blended cost of capital—crucial for supporting effective execution in challenging lending conditions."

This trend highlights that borrowers increasingly view C-PACE as a viable complement to conventional construction debt, particularly for projects requiring extensive capital and defined eligible expenses. Clearwater PACE is committed to meeting this growing need, equipped to underwrite and close institutional C-PACE deals efficiently as demand continues to rise.

Clearwater's Growing Footprint

The recent transaction serves to extend Clearwater’s reach across various asset classes. The platform specializes in underwriting middle-market and larger ground-up construction projects, redevelopment initiatives, and transactions requiring recapitalization. Clearwater collaborates with banks, debt funds, and alternative investment managers, aligning their efforts across the capital stack for successful deal execution.

Clearwater PACE recognizes that the maturation of the C-PACE market into an institutional asset class is driven largely by escalating demand for what they offer: long-tenor, fixed-rate construction capital that is secured and structured. The platform anticipates that it will continue to manage transactions with similar complexity and scale throughout the remainder of the year.

About Clearwater PACE

Clearwater PACE is a pioneering C-PACE principal lending platform based in New York. With an up-to-$300 million capital vehicle provided by Ares Management, Clearwater specializes in originating, structuring, underwriting, and closing institutional C-PACE transactions nationwide. Their team boasts over $30 billion in cumulative transaction experience across structured credit and commercial real estate, placing them in a pivotal position to influence the growing complexity of the financing landscape. To learn more, visit their website at www.c-pace.com.