C-PACE Financing Parameters

C-PACE Financing Parameters

Property Type Commercial only*; no Residential Properties
Geography All states with PACE-enabling legislation and active C-PACE Program Administrators
Min. C-PACE Deal Size $300,000
Max. C-PACE Deal Size $50,000,000
Min. Term (years) 10 years
Max. Term (years) 30 years (in California); otherwise 20 years
Max. LTV (including C-PACE Lien) Up to 95%
Max. C-PACE Lien to Value Up to 25%
Min. SIR (Savings-to-Investment Ratio) 1.0x
Property Taxes Current, without delinquency over last 5 years
Years property free from a bankruptcy 5 years

Documentation Required for Underwriting:

Appraised Value @ Completion Yes
Phase I Environmental Report Yes
Title Report Yes
Energy Engineering Report (quantifying savings) Yes; RAHILL Capital will assist
Entity Authorization Documents Yes
Years of Operating Financial Statements Historical 3 years, or Projected 3 years
Mortgage Loan Agreements or Term Sheets Yes (prefer both secured and unsecured)
Executed Mortgage Lender Consent Yes; mandatory
Evidence of Commercial Property Insurance Yes
Construction Contracts (GC and/or Subs) Yes
C-PACE Program Administrator Final Application Yes