GreenRock Capital and Petros PACE Finance have successfully secured $62.6 million in financing for the construction of a new hotel project in Healdsburg, located at 101 Dovetail. The development is being led by CCS Healdsburg Hotel, LLC, a partnership between Comstock Development Company, Wine Country Holdings and HVH Investment.
Expected to open in 2025 as part of the North Village mixed-use master plan just two miles north of downtown Healdsburg, this project serves as an excellent example of how developers can utilize C-PACE financing to supplement their capital stack with sustainable and innovative funding solutions. According to Mansoor Ghori, CEO and founder of Petros PACE Finance: “C-PACE is no longer considered alternative or niche financing; it has emerged as a mainstream solution for funding across all property types.”
This expertly crafted financial arrangement showcases the growing potential for C-PACE within commercial real estate development projects nationwide.
