C-PACE
What we do:
Property Assessed Clean Energy (PACE) is a financing option for renewable energy such as solar, energy efficiency upgrades like new windows or HVAC units, conservation projects like green roofs and water use systems, seismic strengthening and much more. The capital is repaid through a long-term special tax assessment on the property. C-PACE is the commercial variation of PACE that exclusively funds commercial real estate projects.
Who we serve:
C-PACE programs are active in dozens of states*. We serve industrial properties, hospitals, multi-family homes, office space, retail buildings, senior housing, and special purpose facilities, including:
- New Construction
- Renovation & Redevelopment
- Retroactive Financing
- Building Expansion
- Tenant & Capital Improvements
Product Benefits:
- Long-term, fixed-rate financing, up to 30-year terms
- Reduce risk, non-recourse, and non-accelerating funding
- Reserve working capital with up to 100% financing
- First payment deferral
- Transferable with the sale of the property
- Costs can be shared with tenants
- Retroactive financing available on eligible projects completed in last 3 years
- Low-cost alternative to Mezzanine debt
*States with active CPACE programs as of February 15, 2023 include: AK, AR, CA, CO, CT, DE, FL, GA, IL, KY, MD, MA, MI, MN, MO, MT, NE, NV, NY, OK, OH, OR, PA, RI, TN, TX, UT, VA, WA, WI