{"id":1004794453,"date":"2026-04-07T02:56:29","date_gmt":"2026-04-07T10:56:29","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004794453"},"modified":"2026-04-07T04:50:08","modified_gmt":"2026-04-07T12:50:08","slug":"nevada-historic-hotel-scores-298m-for-redevelopment","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nevada-historic-hotel-scores-298m-for-redevelopment\/","title":{"rendered":"Historic Nevada Hotel Scores $298M for Redevelopment"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a147303408c5&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"907\" height=\"680\" data-attachment-id=\"1004794455\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hotellobby_creditrealberry-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/HotelLobby_CreditRealberry-edited.jpg\" data-orig-size=\"907,680\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"HotelLobby_CreditRealberry\" data-image-description=\"&lt;p&gt;Image downloaded via Realberry press page. https:\/\/www.realberry.com\/news\/realberry-hospitality-investment-strategy\/&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Formerly known as McWhinney, Realberry is a Colorado-based commercial real estate  firm. Image courtesy of Realberry&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/HotelLobby_CreditRealberry-edited.jpg?w=907\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/HotelLobby_CreditRealberry-edited.jpg\" alt=\"\" class=\"wp-image-1004794455\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/HotelLobby_CreditRealberry-edited.jpg 907w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/HotelLobby_CreditRealberry-edited.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/04\/HotelLobby_CreditRealberry-edited.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 907px) 100vw, 907px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Formerly known as McWhinney, Realberry is a Colorado-based commercial real estate firm. <em>Image courtesy of Realberry<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Realberry and Proper Hospitality have secured a $298 million financing package for the redevelopment of the Cal Neva Hotel in Cristal Bay, Nev. The historic property will be remodeled into Lake Tahoe Proper Resort and&nbsp;Casino.<\/p>\n\n\n\n<p>The financing includes the first <a href=\"https:\/\/www.commercialsearch.com\/news\/brandywine-nuveen-close-record-c-pace-loan-for-philadelphia-tower\/\">C-PACE transaction<\/a> in Washoe County and the largest in the history of Nevada\u2014Nuveen Green Capital originated a $223 million C-PACE loan which will be used to capitalize energy and water efficiency measures, as well as the exterior shell of the property.<\/p>\n\n\n\n<p>Additionally, Banc of California issued a $75 million senior construction loan for the project. Other investors in the fund comprised private and family offices, among which entrepreneur Hayes Barnard.<\/p>\n\n\n\n<p>Realberry\u2014previously known as McWhinney\u2014acquired the property in 2023, according to the <em>Tahoe Daily Tribune<\/em>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/4b-mixed-use-development-moves-forward-in-orange-county\/\">$4B Mixed-Use Development Moves Forward in Orange County<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Co-developed in partnership with Kor Real Estate Partners, the project is slated for completion in 2027. Kelly Wearstler will oversee interior design at the resort.<\/p>\n\n\n\n<p>Cal Neva came online 100 years ago at 2 Stateline Road on some 13 acres. The property is north of Lake Tahoe and some 40 miles south of Reno, Nev.<\/p>\n\n\n\n<p>The redevelopment calls for 197 units, which include guest rooms, suites and private villas. Amenities will comprise an indoor and outdoor private event spaces, a casino, a restored 225-seat theater, a spa, lakefront pools and multiple restaurants and bars. Moreover, the property will include three padel courts and a free-standing pickleball building.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Financing includes the largest C-PACE loan in state history.<\/p>\n","protected":false},"author":3909,"featured_media":1004794455,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21751,21742,15],"tags":[50866,36969,52526,52351,37424],"class_list":["post-1004794453","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-hotel","category-latest","category-west","tag-banc-of-california","tag-c-pace","tag-mcwhinney","tag-nuveen-green-capital","tag-proper-hospitality"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Historic Nevada Hotel Scores $298M for Redevelopment - 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