X-Caliber Funding, a national, direct commercial real estate lender, and CastleGreen Finance, an X-Caliber affiliate that provides capital through Commercial Property Assessed Clean Energy (C-PACE) financing, completed the refinance of the Fairmont Breakers Hotel & Spa in Long Beach. With these latest financings, X-Caliber and CastleGreen have provided a total of $122.2 million in financing to the project.

To date, the two X-Caliber affiliates have provided $64.45 million in bridge loans, secured by a first mortgage and historic tax credits, while CastleGreen has provided $57.75 million of C-PACE financing through the California Statewide Communities Development Authority’s Open PACE Program.

“We are very pleased to provide this unique financing combination for such an impactful project that perfectly aligns with our lending products and business model,” said Chris Callahan, president and CEO of X-Caliber.

The renovated Breakers Hotel, which has been rebranded under the Fairmont brand, features 185 guest rooms, a rooftop pool, several restaurants, and a renovation of the Sky Room. The 15-story hotel, among the oldest buildings in Long Beach, was originally built in 1926 and has hosted guests such as John Wayne, Clark Gable, Cary Grant, and Elizabeth Taylor.

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