$11 Million Secured for Beaumont Hotel Redevelopment into Dual-Branded Marriott
An $11 million financing agreement has been reached for the redevelopment of the MCM Elegante Hotel in Beaumont into a dual-branded Marriott property. The project aims to enhance energy efficiency, reducing energy use by 29% and water consumption by 39%.
Theia Market Signal Identification - AI Assisted
Peachtree Group and Lone Star PACE have finalized an $11 million C-PACE financing deal for the redevelopment of the MCM Elegante Hotel in Beaumont. The renovation will transform the property into a 287-room hotel, comprising a 135-room Courtyard by Marriott and a 152-room Element Hotel.
Upgrades will include improvements to energy systems, expected to result in a 29% decrease in energy use, a 39% reduction in water consumption, and a 30% cut in natural gas use. This project aims to bolster long-term property performance and lower operating costs, addressing funding difficulties through the C-PACE financing mechanism.
Comments