What is C-PACE?
Commercial Property Assessed Clean Energy (CPACE) provides real estate developers and property owners with an innovative tool to finance construction projects within existing buildings or new construction. With funding from private capital sources, the CPACE program is modeled after other funding methods used to fund public benefits and infrastructure.
- Funding for up to 25% of the building’s value
- No personal guarantees
- Up to 30 year fixed-rate funding
- Lower rates/cost than mezzanine debt or equity
- No payments for up to 2 years
- No principal repayment required upon sale
- Ability to pass through tax assessment to tenants or hotel guests
PACE can fund a wide variety of improvements
- HVACR and Controls
- Lighting & Electrical
- Building Envelope
- Water Efficiency
- Renewable Energy / CoGen
- Associated Soft Costs
- And much more!
Real Estate Developers with a key funding mechanism to close the gap in the capital stack
Property Owners with funding for key building improvements to increase the value of the asset
$500 in PACE funded deals nationwide (2017)