X-Caliber Holdings LLC, a national commercial real estate lender specializing in impact-driven financing, announced the successful closure of a $26.3 million financing package. This marks the company’s first Rural PACE-X transaction, supporting the construction of a 111-room Holiday Inn Express in Silverthorne, Colorado, under IHG Hotels & Resorts.
The project, developed by REV Development, combines $20 million in senior-secured conventional financing through an affiliate of X-Caliber Rural Capital and $6.3 million in Commercial Property Assessed Clean Energy (C-PACE) financing provided by CastleGreen Finance.
The conventional loan will cover construction and stabilization costs for up to five years, while the C-PACE financing offers long-term, prepayable funding designed to support energy-efficient building practices. By blending these two funding mechanisms, the Rural PACE-X product helps reduce upfront costs, making sustainable development more accessible for developers in underserved areas.
Rural PACE-X is a hybrid financing product tailored for ground-up construction projects in micro-rural regions. It merges conventional lending with a C-PACE structure to deliver high-leverage financing. Eric Carlson from X-Caliber originated this loan.
Chris Callahan, President and CEO of X-Caliber, highlighted the broader benefits of the project:
“By leveraging our expertise in USDA and C-PACE lending, we’re fostering not just hotel development but also economic growth for the local community, benefiting small businesses through increased tourism.”
The hotel is expected to generate 36 permanent jobs upon completion.
Jordan Blanchard, Co-Founder of X-Caliber Rural Capital, emphasized the potential of tailored financial solutions:
“This project illustrates how innovative financing can support sustainable development and drive economic growth in underserved rural areas.”
Sal Tarsia, Managing Partner at CastleGreen Finance, added,
“Rural PACE-X addresses unique rural challenges by combining economic development with environmental stewardship, ensuring long-term sustainability.”
The Silverthorne Holiday Inn Express is scheduled to open in 2025, marking a milestone in energy-efficient rural development.
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By Proptechbuzz
By Ravi Kumar
