Best C-PACE Lenders for Hotel Renovations in 2026: Ranked by Deal Size and Hotel Expertise

C-PACE (Commercial Property Assessed Clean Energy) has moved from a niche capital-stack tool to a core financing layer for hotel renovations. Industry originations topped $2.1 billion from Nuveen Green Capital alone in 2025, and deal sizes that once averaged $800,000 now routinely exceed $40 million. For hotel owners facing a PIP, brand mandate, or overdue mechanical upgrade, the question is no longer whether C-PACE fits, it's which lender offers the best terms for your project.

This guide ranks the most active hotel C-PACE lenders in 2026, breaks down current rate ranges, clarifies which improvements qualify (and which don't), and explains the senior lender consent process that every hotel borrower needs to navigate.

7 Hotel C-PACE Lenders Ranked for 2026

The table below compares the most active C-PACE lenders financing hotel projects in 2026, ranked by their largest verified hotel-related C-PACE deal.

Lender-by-Lender Breakdown

Peachtree Group: Largest Hotel C-PACE Deal on Record

Peachtree Group closed the largest hotel C-PACE transaction ever recorded: a $176.5 million retroactive CPACE loan for Dreamscape Companies' 2,520-room Rio Hotel & Casino in Las Vegas. The deal was finalized in under 60 days as part of a $740 million capital stack that also included mortgage and mezzanine debt.

The Rio renovation included HVAC plant modernization, electrical infrastructure upgrades, and convention center improvements, all reimbursed retroactively through C-PACE. Peachtree also originated a $40 million C-PACE financing for the AC Hotel San Diego Downtown Gaslamp Quarter and has completed more than 90 C-PACE transactions across asset classes.

Best for: Large-scale hotel renovations, retroactive financing for completed projects, and borrowers who need both senior debt and C-PACE from one lender.

GreenRock Capital: Luxury Hotel C-PACE Structuring

GreenRock Capital, based in the San Francisco Bay Area, co-originated a $62.6 million C-PACE financing for the Appellation Healdsburg hotel in Sonoma County alongside Petros PACE Finance. The culinary-focused luxury property represents one of the largest single-hotel C-PACE transactions in California.

GreenRock has been active in C-PACE since 2014 and has led some of the largest transactions in the sector, including a $172 million C-PACE loan for an Oakland office building and a $103 million financing for Chinese Hospital in San Francisco.

Best for: Luxury and boutique hotel developers, particularly in California and Western states, who need large-dollar C-PACE structuring with experienced co-origination.

CounterpointeSRE: Luxury Hotel Recapitalizations

CounterpointeSRE, a portfolio company of MassMutual, provided $33.7 million in C-PACE financing for the Four Seasons Embarcadero Hotel in San Francisco, a 155-key luxury property that was facing foreclosure before the C-PACE transaction closed. The financing funded sustainability improvements to plumbing, building envelope, and electrical systems.

CounterpointeSRE has also financed hotel projects including a $23.4 million repositioning for an Autograph Collection property in Chicago and a $13.5 million new-construction Hyatt Centric in Sacramento. The firm predominates the large-deal C-PACE market with two of the largest-ever C-PACE financings across all asset classes.

Best for: Luxury hotel owners in distressed or transitional situations, recapitalizations, and properties where C-PACE can replace maturing conventional debt.

Clearwater PACE: Institutional Hospitality C-PACE Platform

Clearwater PACE recently closed a $33 million C-PACE financing for Ameyalli Wellbeing Resort, a luxury wellness destination under ground-up development near Park City, Utah. The firm operates with an up-to-$300 million capital vehicle from Ares Management, targeting fixed-rate financings of $5 million or greater with a typical check size of $40–$50 million.

Best for: Larger hotel projects ($5M+ C-PACE component) seeking institutional-grade execution and fast deployment across all 40+ C-PACE-active states.

PETROS PACE Finance: Marriott-Branded Hotel Specialist

PETROS PACE Finance, backed by Apollo Global Management, has built a notable track record in Marriott-branded hotels. The firm provided $30.6 million in C-PACE for the Palmetto Marriott Resort & Spa in Florida and partnered with MidCap Financial to deliver a unitranche structure for the 161-key AC Hotel by Marriott in Knoxville, combining C-PACE and first mortgage at 75% total loan-to-cost.

PETROS also funded a $16.3 million C-PACE deal for a Marriott Hotel & Residence Inn in Columbus, Ohio, at the time the largest C-PACE project in Ohio.

Best for: Marriott-flagged hotel construction and conversions, and developers seeking innovative unitranche structures that combine C-PACE and senior lending in a single package.

PACE Loan Group: Mid-Market Hotel Specialist

PACE Loan Group, backed by capital from AB CarVal (a subsidiary of AllianceBernstein), has built a hospitality portfolio spanning select-service through boutique properties. The firm provided $16.75 million across three tranches of C-PACE for the Aviator Hotel, a 250-room hotel renovation in Anchorage, Alaska. PACE Loan Group also financed a $3 million C-PACE loan for a dual-branded TownePlace Suites and Fairfield Inn & Suites by Marriott in Columbus, Nebraska, and a $13 million C-PACE for a SpringHill Suites by Marriott in Lakewood, Washington.

Their hotel transaction list also includes a Renaissance Hotel in Chicago, a Four Seasons Hotel in Minneapolis, a Hyatt House in Orlando, and a Hotel Blossom in Houston.

Best for: Mid-market hotel renovations, multi-tranche financing for phased projects, and borrowers in smaller markets where other C-PACE lenders may be less active.

Nuveen Green Capital: Largest C-PACE Originator by Volume

Nuveen Green Capital (NGC), a subsidiary of TIAA, nearly doubled originations from $1.2 billion in 2024 to $2.1 billion in 2025, making it the single largest C-PACE originator by volume. While NGC's largest transactions have been in multifamily and mixed-use (including a record $465 million C-PACE for an office-to-residential conversion in D.C.), the firm also originates hotel C-PACE and has published detailed guidance on C-PACE as a financing mechanism for hotel construction and retrofit.

NGC raised $785 million in new institutional committed capital for its C-PACE lending strategy, signaling continued scale in 2026 and beyond.

Best for: Large hotel projects in need of a lender with institutional scale and track record, and borrowers who want to work with the market's highest-volume originator.

2026 C-PACE Rate Ranges for Hotels

Hotel C-PACE rates in 2026 generally fall in the high 6% to mid 7% range, according to Jared Schlosser, head of credit originations and commercial PACE at Peachtree Group. Rates are fixed for the full term, typically 20 to 30 years, which is fundamentally different from the floating-rate bridge debt or 5-year fixed-rate conventional loans most hotel owners are accustomed to.

Here's how C-PACE rates compare to other capital sources:

C-PACE's long duration and fixed rate mean lower annual debt service even when the headline rate appears similar to a bank loan. Repayment is structured as a special assessment on the property tax bill, paid annually or semi-annually, not monthly, which improves cash flow timing for seasonal hotel operations.

Which Hotel Renovation Improvements Qualify for C-PACE?

C-PACE finances permanently affixed improvements that improve energy efficiency, water conservation, renewable energy generation, or building resiliency. For hotel renovations, the most common eligible improvements include:

• HVAC systems: Central plant upgrades, rooftop units, heat pumps, VRF systems

• Building envelope: Roofing, insulation, windows, air sealing

• Lighting: LED retrofits, lighting controls, building automation systems

• Water conservation: Low-flow fixtures, greywater systems, cooling tower optimization

• Renewable energy: Solar PV, solar thermal, geothermal

• Elevators and vertical transport: High-efficiency motor upgrades

• EV charging stations: Permanently installed guest and fleet chargers

• Electrical infrastructure: Upgraded panels, transformers, emergency generators

• Seismic and resiliency: Hurricane-resistant windows, seismic retrofitting, flood mitigation

C-PACE also covers soft costs associated with eligible improvements, including energy audits, engineering studies, architectural fees, and permitting expenses.

What Doesn't Qualify

FF&E (furniture, fixtures, and equipment) is not C-PACE-eligible. Beds, case goods, carpet, window treatments, lobby furniture, and similar items are not permanently affixed building improvements and cannot be financed through C-PACE. Hotel owners typically finance FF&E separately through dedicated FF&E loans or equipment financing.

A typical hotel renovation often combines C-PACE for the mechanical and efficiency components with conventional or SBA financing for the broader renovation scope and an FF&E facility for the soft goods.

Retroactive C-PACE: Finance Renovations You've Already Completed

One of C-PACE's most powerful features for hotel owners is retroactive financing, the ability to obtain C-PACE proceeds for qualifying improvements that have already been installed and paid for. This effectively reimburses the owner for prior capital expenditures, freeing liquidity for operations, debt paydown, or the next project.

The Rio Hotel & Casino deal is the landmark example: Peachtree Group's $176.5 million C-PACE loan reimbursed 100% of the renovation costs that Dreamscape Companies had already completed.

Retroactive eligibility varies by state. Over 25 states allow lookback periods, typically ranging from 12 to 36 months, though some jurisdictions extend further. Florida recently eliminated its previous 3.5-year lookback restriction, making retroactive C-PACE available for a broader range of completed hotel projects.

Key requirements for retroactive C-PACE:

• The improvements must be C-PACE-eligible (energy efficiency, water conservation, renewables, or resiliency)

• The property must be in a C-PACE-active jurisdiction, currently 40 states with over 32 active programs

• A third-party energy audit confirms the improvements meet program requirements

• The loan term is based on the remaining useful life of the improvements

Navigating Senior Lender Consent

C-PACE carries a senior lien position: it sits ahead of the primary mortgage in the repayment hierarchy because it's structured as a property tax assessment. That means the existing mortgage holder must provide written consent before C-PACE can be recorded.

This consent requirement is the single most common concern hotel owners raise about C-PACE. As Jared Schlosser of Peachtree Group noted: "I often hear from developers who are interested in CPACE but believe that senior lenders won't consent to it. That's simply not true. We've closed 90 of these deals."

The consent process typically involves:

1. Presenting the C-PACE structure to the senior lender with project documentation

2. Demonstrating the benefit: C-PACE-funded improvements reduce operating costs and increase property value, which protects the senior lender's collateral

3. Negotiating consent terms: Some lenders require the C-PACE amount to stay below a threshold (often 20–35% of stabilized value)

4. Executing a formal consent agreement: Bridge Marketplace can coordinate this process through a centralized deal room to reduce friction between the C-PACE lender and the senior lender

The process adds 2–4 weeks to the timeline. For hotel owners planning a renovation, starting the consent conversation early, ideally during the senior loan negotiation phase, can prevent delays.

How Bridge Marketplace Connects You With Multiple C-PACE Lenders

Comparing C-PACE lenders is critical because rates, terms, and deal execution vary meaningfully across providers. A lender with deep hospitality experience may structure your deal differently than one focused primarily on multifamily or office, and that structural difference can save hundreds of thousands in lifetime interest costs.

Bridge Marketplace gives hotel owners access to C-PACE lenders alongside conventional, SBA, bridge, and mezzanine financing options through a single 10-minute application. Rather than approaching each C-PACE lender separately, you submit once and receive multiple term sheets to compare.

This matters for hotel renovations because C-PACE rarely finances the entire project. Most hotel PIPs require a layered capital stack: C-PACE for the energy-efficient components, conventional financing for the broader scope, and potentially FF&E lending for furniture and soft goods. Bridge coordinates across all three layers so you can optimize the full structure, not just one piece.

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Frequently Asked Questions

How much of my hotel renovation can C-PACE cover?

C-PACE typically covers 20–35% of a hotel's stabilized property value for eligible energy-efficient components. The exact percentage depends on your state's program rules. Texas, for example, increased its LTV limits to 35%, and the scope of qualifying improvements in your project.

Can C-PACE fund my entire hotel PIP?

No. C-PACE only covers improvements that meet energy efficiency, water conservation, renewable energy, or resiliency criteria. Items like FF&E, cosmetic finishes, and brand-specific design elements require separate financing. However, C-PACE can cover a significant portion of mechanical and building-envelope work within a PIP.

Is C-PACE available in my state?

C-PACE programs are active in 40 states with over 32 active programs as of 2026. Coverage continues to expand. Nuveen Green Capital recently closed the first-ever C-PACE project in North Carolina. Check with your state or municipality, or submit an application through Bridge Marketplace to confirm eligibility.

How long does C-PACE take to close?

Typical C-PACE closings take 4–8 weeks from application to funding. Peachtree Group closed the $176.5 million Rio Hotel deal in under 60 days. The biggest variable is the senior lender consent process. Starting that conversation early compresses the overall timeline.

Can I get C-PACE for a renovation I already completed?

Yes. Over 25 states allow retroactive C-PACE with lookback periods typically ranging from 12 to 36 months. Some states, like Florida, have recently eliminated lookback restrictions entirely. A third-party energy audit must confirm the completed improvements meet C-PACE eligibility requirements.

Conclusion

C-PACE has grown from an obscure green-finance tool into a financing layer that hotel owners can no longer afford to overlook. With fixed rates in the high 6% to mid 7% range, terms stretching 20 to 30 years, and non-recourse structures, it fills a gap that conventional debt, mezzanine, and bridge loans simply don't cover on comparable terms. Add retroactive financing into the mix, and even hotels that have already completed renovations can unlock liquidity from work that's already done.

The seven lenders profiled here range from large-deal specialists closing nine-figure transactions to mid-market shops funding phased select-service renovations. Each brings different strengths to the table, and the right fit depends on your project size, brand affiliation, geography, and capital stack.

That's exactly why comparing multiple C-PACE offers matters. Rates, structures, and closing timelines vary enough between lenders that a single conversation with one provider leaves money on the table.

Bridge Marketplace lets you skip the lender-by-lender outreach. Submit one 10-minute application and receive competing C-PACE term sheets alongside conventional, SBA, and mezzanine options, so you can build the most efficient capital stack for your hotel renovation.

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