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Petros PACE Finance closes largest C-PACE deal with $153m financing towards $820m Black Desert Resort Project
Transactions - OCTOBER 3, 2022

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Petros PACE Finance closes largest C-PACE deal with $153m financing towards $820m Black Desert Resort Project

by Released

Petros PACE Finance has closed on a record $153 million C-PACE financing as part of the $820 million, 580-acre world-class development, Black Desert Resort Project, in Ivins, Utah.

Located near Zion National Park in one of the fastest-growing metropolitan areas in the country, Phase 1 of Black Desert Resort will include a luxury resort hotel, approximately 1,000 condos, 190,000 square feet of retail, restaurants, and commercial space, 25,000 square feet of event space, a full clubhouse, and a Tom Weiskopf-designed 19-hole golf course. The development is currently under construction and upon completion will be the largest hospitality offering in the state of Utah. Phase I of the project is set to open in the fall of 2024.

Commercial Property Assessed Clean Energy (C-PACE) is a recognized financing mechanism for energy efficiency, water efficiency, renewable energy, and resilience projects. Through C-PACE, property owners can finance building retrofits, gut rehabilitatio

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