Skip to content

Search

Latest Stories

Peachtree issues $10.7 million CPACE loan for Nashville office development

Nashville's Division Street Development aims to complete the project by October

Peachtree issues $10.7 million CPACE loan for Nashville office development
Peachtree Group CPACE loan

PEACHTREE GROUP RECENTLY originated its first commercial property assessed clean energy financing in Tennessee, providing a $10.7 million loan for a Class-A office development in Nashville.

Nashville's Division Street Development is developing the four-story, 75,000-square-foot project, slated for completion by October 2024, Peachtree said in a statement.


“For eligible projects, CPACE financing remains one of the most attractive options to bring a project to completion,” said Jared Schlosser, Peachtree’s executive vice president and head of CPACE. “We are pleased to assist Division Street Development in securing the final piece needed to complete the financing puzzle for their office development.”

Peachtree is led by Greg Friedman as managing principal and CEO, with Jatin Desai serving as managing principal and CFO and Mitul Patel as principal.

The Division Street Development project is one of the first properties in Nashville and Davidson County to use CPACE, the statement said. The office project is between Nashville's central business district and the Wedgewood-Houston district. The 30-year CPACE financing will fund the office's lighting, building envelope, HVAC, plumbing and roof with a combination of retroactive and future funding.

The Tennessee State legislature passed CPACE enabling legislation in 2021, permitting counties or cities to establish CPACE programs. Property owners in Tennessee can utilize CPACE financing up to 25 percent loan-to-value, providing a flexible and sustainable financing option.

According to Peachtree, office and commercial real estate owners face challenging years ahead, with trillions of dollars in maturing debt and increasingly difficult refinancing due to tightened bank lending standards. CPACE programs provide property owners a unique opportunity to finance upfront costs for energy or other eligible improvements on a property. Repayment occurs over time through a voluntary assessment, as outlined by the U.S. Department of Energy.

Peachtree Group Credit provides direct lending for permanent loans, bridge loans, mezzanine loans, CPACE financing, and preferred equity across all commercial real estate sectors. In June, Peachtree issued a $40 million retroactive CPACE loan to BLG San Diego LLC for the new 147-room AC Hotel San Diego Downtown Gaslamp Quarter.

More for you

G6 Hospitality RMS Program Powers Q1 2025 Growth

G6 RMS properties log 11 percent Q1 revenue gain

Summary
  • The G6 RMS program uses automation, comp tracking and strategy calls.
  • RMS properties saw 11 percent year-over-year revenue growth in Q1 and a 10 percent higher ADR.
  • Revenue-managed properties posted 11.5 percent growth through web and app channels.

PROPERTIES OF G6 Hospitality enrolled in its “G6 Revenue Management Services” program saw 11 percent year-over-year revenue growth in the first quarter of 2025, more than double the rate of the rest of the portfolio. They also recorded a 10 percent higher ADR than non-RMS properties.

The RMS program uses proprietary automation tools, daily competitive set monitoring and bi-weekly strategy calls with revenue managers, G6 said in a statement. G6 is the parent company of Motel 6 and Studio 6 brands.

Keep ReadingShow less
Air India plane crash 2025
Photo by Sam PANTHAKY / AFP

Air India reducing flights after deadly crash

AIR INDIA WILL reduce international service on widebody aircraft by 15 percent through at least mid-July, according to media reports. The decision comes less than a week after the June 12 crash of an Air India airliner carrying 230 passengers and 12 crew members in Ahmedabad, India, that killed 246 but left one survivor among the passengers.

The airline said the reduced service due to the safety inspection of aircraft and ongoing geopolitical tensions in the Middle East, which have disrupted operations, resulting in 83 flight cancellations over the past six days, according to ABC News. Passengers can either reschedule their flights at no additional cost or receive a full refund.

Keep ReadingShow less
hihotels executive team honored for long-term service and loyalty in hospitality

Hihotels recognizes eight company leaders

EIGHT LEADERS OF hihotels by Hospitality International, Inc. are being recognized by the company for their combined 121 years of service. The company was established in 1982 as an alternative to other, established brands.

The honorees include Paul Vakharia, hihotels’ senior director of franchise development for the Northeast Region who has been with the company for 25 years. Chhaya Patel, franchise development coordinator, also has been with the company for 25 years.

Keep ReadingShow less
ICE Raid Resumes in Hotels & Farms After DHS Reversal
Photo by Mario Tama/Getty Images

Reuters: ICE resumes hotel immigration raids

ICE Reverses Decision to Pause Raids on Key Industries

U.S. IMMIGRATION OFFICIALS have reversed enforcement limits at hotels, farms, restaurants and food processing plants days after issuing them, following conflicting statements by President Donald Trump, according to Reuters. ICE leadership told field office heads on Monday it would withdraw last week's directive that paused raids on those businesses.

ICE officials were told a daily quota of 3,000 arrests—10 times the average last year under former President Joe Biden—would remain in effect, two former officials said in the report. ICE field office heads raised concerns they could not meet the quota without raids at the previously exempted businesses, Reuters reported, citing a source.

However, it was not clear why the directive was reversed.

Keep ReadingShow less
San Francisco museum to open Indo-American hotelier exhibit in 2026 honoring Indian American pioneers
Photo courtesy of Beth LaBerge/KQED

Tenderloin Museum plans Indian hotelier exhibit

What is the Indo-American Hotelier Exhibit in San Francisco?

THE TENDERLOIN MUSEUM in San Francisco is launching the Indo-American Hotelier History Exhibit, the first permanent U.S. exhibition of its kind. The exhibit, opening in 2026 as part of the museum’s expansion, will document Indian immigrants’ role in the U.S. hospitality industry, beginning in San Francisco’s Tenderloin.

It will document the role of Indian immigrants in the U.S. hospitality industry, beginning in San Francisco’s Tenderloin, AAHOA said in a statement.

Keep ReadingShow less