Anatomy of a Deal – Rio Hotel & Casino CPACE Financing
📈 The Rio Hotel & Casino in Las Vegas underwent a major renovation in 2024, involving its 2,520 rooms and casino. A $176.5 million CPACE loan, one of the largest, financed the upgrades. This financing closed in under 60 days, showcasing CPACE's speed and efficiency. Private credit, a $1.5 trillion market, offers loan-to-value ratios up to 75% compared to 50-55% from banks. With 35% of hotel loans maturing in 2025 at risk, CPACE and private credit are crucial.
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