Peachtree and Lone Star PACE Secure $11 Million C-PACE for MCM Elegante Hotel Redevelopment in Beaumont
🏨 Peachtree Group and Lone Star PACE closed an $11 million C-PACE transaction for redeveloping the MCM Elegante Hotel in Beaumont, Texas. The project will convert the hotel into a 287-key, dual-branded Courtyard and Element Hotel by Marriott, with 135 Courtyard rooms and 152 Element rooms. Renovations will last about 18 months, with the hotel remaining open. C-PACE financing helps overcome capital constraints, offering a cost-effective means for such hospitality asset transformations.
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