<body><div><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=0FyiM6_1A5GwHkz00" alt="https://img.particlenews.com/image.php?url=0FyiM6_1A5GwHkz00" width="986" height="555" >BEAUMONT — An $11 million financing deal has been finalized to support the redevelopment of a Beaumont hotel into a dual-branded Marriott property, according to project partners.Peachtree Group and Lone Star PACE announced the closing of a Commercial Property Assessed Clean Energy, or C-PACE, transaction for the renovation of the MCM Elegante Hotel at 2355 Interstate 10.The project will convert the existing property into a 287-room hotel featuring two brands: a 135-room Courtyard by Marriott and a 152-room Element Hotel designed for extended-stay guests.Officials said the financing will fund energy and water efficiency upgrades, including improvements to windows and building systems, heating and cooling equipment, lighting, and plumbing.Those upgrades are expected to reduce annual energy use by 29%, water consumption by 39% and natural gas use by 30%, according to the companies.Peachtree Group officials said the use of C-PACE financing is intended to help move forward projects that may otherwise face funding challenges.“C-PACE plays a critical role in helping owners close the gap on projects that otherwise would not pencil in today’s environment,” said Robert Loeb, assistant vice president of originations at Peachtree Group.Lone Star PACE serves as a program administrator for C-PACE projects across Texas, working with local governments and property owners to support energy efficiency and development efforts.Officials said the Beaumont project is expected to improve the property’s long-term performance while reducing operating costs.</div></body>

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BEAUMONT — An $11 million financing deal has been finalized to support the redevelopment of a Beaumont hotel into a dual-branded Marriott property, according to project partners. Peachtree Group and Lone Star PACE announced the closing of a Commercial Property Assessed Clean Energy, or C-PACE, transaction for the renovation...

$11 million in funds secured for Elegante Hotel redevelopment

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BEAUMONT — An $11 million financing deal has been finalized to support the redevelopment of a Beaumont hotel into a dual-branded Marriott property, accordi

$11 million in funds secured for Elegante Hotel redevelopment

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