Nathaniel Kelly Foote has landed $65 million in C-PACE financing from Twain Capital Partners to complete Foote's Rest, a mixed-use development anchored by a Marriott hotel in Frisco, Colorado. The 144,597-square-foot project sits in the Rocky Mountains and represents a significant capital commitment to the resort hospitality sector.
C-PACE loans, or Commercial Property Assessed Clean Energy financing, allow developers to borrow against future energy savings. Twain Capital structured this debt to fund completion of the Marriott-branded hotel component alongside additional mixed-use space. The Frisco location places the project near major ski resorts and tourist infrastructure, positioning it as a destination hospitality asset.
For hotel developers in mountain markets, C-PACE financing offers advantages beyond traditional commercial mortgages. The debt attaches to the property rather than the borrower, improving balance sheet flexibility. Lenders like Twain Capital view hospitality projects with strong branded operators, like Marriott, as lower risk because of established management systems and revenue streams. The energy-efficiency angle of C-PACE aligns with investor appetite for sustainable development in tourism markets.
For Foote's Rest specifically, the $65 million check closes a funding gap typical in large mixed-use hospitality builds. Construction timelines for hotel projects routinely stretch, creating cash flow timing mismatches. C-PACE debt deployed at this stage typically bridges those gaps while the property moves toward stabilization and permanent financing.
Frisco's mountain location matters for the deal structure. Tourism-dependent mountain towns have seen property values climb as remote work normalizes and outdoor recreation demand stays strong. A Marriott-branded property in this market captures both transient hotel guests and longer-stay visitors seeking resort amenities. The mixed-use component likely includes residential or retail space that divers