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Developers outline EB‑5 and CPACE financing approach for North Anchor hotel; land acquisition and DDA amendment planned
Summary
UDP developers briefed the council on financing progress for the North Anchor project, saying they are pursuing an EB‑5 capital raise and exploring CPACE (commercial PACE) as a complementary financing tool and plan to advance a land acquisition and a DDA amendment in the fall to accelerate the hotel project.
Representatives of UDP updated the council on the Lake Oswego North Anchor project at the July 15 meeting, describing recent financing work and a proposed capital stack that would pair EB‑5 investment with a CPACE loan (commercial property assessed clean energy) and a land‑acquisition component to accelerate hotel construction.
UDP said it is close to an agreement to finance up to about 75% of the hotel with an EB‑5 offering managed by an experienced sponsor. EB‑5 is a U.S. immigration‑linked private investment program administered by U.S. Citizenship and Immigration Services; investors provide capital that must create qualifying jobs and are repaid on an agreed…
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