Commercial Property Assessed Clean Energy (C-PACE) 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 C-PACE program is modeled after other funding methods used to fund public benefits and infrastructure.
- Participant Replacement: STONEHILL PACE can provide a solution on loans needed to be participated or syndicated
- Increase in Deposits: C-PACE assessments fund in full at closing. These funds, along with capitalized interest, reserves and escrow can be held by the Senior Lender.
- Competitive Capital Stack: C-PACE provides a borrower with an added solution if the senior lender cannot get to the leverage request.
- Reducing Exposure: Senior Lender can reduce exposure in the asset and use C-PACE to remain at the same all-in basis.
- Reserves for Underperforming Assets: Senior Lender can use C-PACE for operational/interest reserves on existing collateral that has been impacted from COVID-19 Pandemic.
- Cost Overruns: C-PACE can be added to any project on hold from cost overruns.
PACE can fund a wide variety of improvements including:
- HVACR and Controls
- Lighting & Electrical
- Building Envelope
- Water Efficiency
- Renewable Energy / CoGen
- Associated Soft Costs
|Amount||$1M – $100M|
|Rate||Fixed starting at 7.00%|
|Amortization||Up to 30 years|
|Loan To Value||Up to 30%|
|Loan To Cost||Up to 35%|
|Loan Term||Up to 30 years (no payment for the first 2 years)|
|Guarantees||Non-recourse and flexible prepayment|