Bayview PACE, a division of Bayview Commercial Mortgage Finance LLC, has closed on $30.2 million in C-PACE funding for The Moxy Menlo Park, a 163-key, upper-midscale, limited-service hotel in Menlo Park, CA, in Silicon Valley. Bayview Commercial Mortgage Finance also provided a $36.1-million construction loan, bringing the total project financing to $66.3 million. JLL Capital Markets arranged the transaction.

“We structured an innovative financing solution that combines C-PACE and traditional construction financing as a one-stop execution solution that tailors the funding to the project’s needs and provides efficiencies in the capital structure,” said A.K Prabhakar, SVP, commercial originations, Bayview.

Upon completion, the 120,059-sq.-ft. Marriott-flagged, seven-story hotel will feature upscale amenities including a market, café, speakeasy and Bar Moxy located on the hotel’s roof deck—the only rooftop bar located within walking distance to Meta Platform’s 30-building headquarters campus. The project also includes a two-story parking garage with 129 parking stalls.

JLL Capital Markets worked on behalf of the project sponsor, Menlo Park Hotel Group LLC, which is a joint-venture entity including Nexera Capital and Titan Management, to secure the financing.

Nexera, leading the development effort, anticipates opening The Moxy in January 2028. The general contractor is VCC Construction, a national full-service construction firm headquartered in Little Rock, AR, with regional offices in Irvine, CA.

In addition to its desirable location next to Meta headquarters and Snowflake’s new 773,000-sq.-ft. Bay Area headquarters, the Moxy Menlo Park also has proximity to dozens of high-tech and venture capital firms as well as Stanford University, Levi’s Stadium and the Santa Clara and San Jose Convention Centers.

Originally published on hotelbusiness