Pace Loan Group

Our Company

Founded in 2017, PACE Loan Group (PLG) is a leading national direct C-PACE lender. PLG benefits from institutional support with capital from funds managed by AB CarVal, a subsidiary of Alliance Bernstein.

As a portfolio company of AB CarVal, a subsidiary of Alliance Bernstein, PLG has institutional capital that supports its balance sheet and direct lending capabilities.

Together, PLG and AB CarVal have committed and deployed nearly $700 million in C-PACE transactions. AB CarVal is committed to its investment in PLG, which supports large and complex, industry-leading transactions.

Rafi Golberstein relocated back to Minnesota, in 2017, with his family to start a commercial real estate business after over ten years as top commercial real estate lender in New York City.

He founded PACE Loan Group (PLG) after learning about the new state-by-state financing tool called Commercial Property Assessed Clean Energy (C-PACE), which encourages property owners to make energy and water improvements in properties and leverages an assessment to spread those payments over 20-30 years. In starting this new company, he was afforded the opportunity to build an experienced and diverse team committed to disrupting the commercial real estate finance industry.

Since then, Rafi has built PLG into one of the leading C-PACE lenders nationwide. The company’s growth placed them as #3 on the Minneapolis/St. Paul Business Journal’s 2023 Fast 50 list.

Rafi Golberstein relocated back to Minnesota, in 2017, with his family to start a commercial real estate business after over ten years as top commercial real estate lender in New York City.

He founded PACE Loan Group (PLG) after learning about the new state-by-state financing tool called Commercial Property Assessed Clean Energy (C-PACE), which encourages property owners to make energy and water improvements in properties and leverages an assessment to spread those payments over 20-30 years. In starting this new company, he also had a goal to bring diversity to the traditionally white-male industry by recruiting diverse candidates who would find success in being environmentally conscious while disrupting the stale world of commercial real estate.

Since then, Rafi has built PLG into one of the leading C-PACE lenders nationwide, closing over 150 C-PACE loans using $350M from institutional investors and a $25M corporate investment from AB CarVal. The company’s growth placed them as #3 on the Business Journal’s 2023 Fast 50 list.

Real People.

We handle origination to underwriting in-house and are only a phone call away if you have questions. We can act as your liaison with senior lenders and other equity sources to ensure that your financing closes as expected.

Real Capital.

Real capital comes from our commitment and ability to close, institutionally backed with balance sheet capabilities. When we issue a term sheet, you have our commitment to your deal. Our credit committee acts quickly to ensure your project stays on course.

PLG CEO Rafi Golberstein talking to fellow colleagues Andy Sinclair and Josh Krsnak in downtown Minneapolis.
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HISTORY

Rafi Golberstein founds PACE Loan Group (PLG)

Rafi Golberstein in his office

Morningstar DBRS provides “A” rating to PLG-issued PACE notes

Morningstar DBRS rating logo

Closes PACE on PAE Building, the largest “Living Building” in the United States

PAE Building

Bali Kumar joins PLG as COO

Bali Kumar

Receives investment from AB CarVal (Alliance Bernstein subsidiary)

AB CarVal

PLG closes the then-largest C-PACE deal in Minnesota, $20M for the Four Seasons Hotel.

Image of the Four Seasons at RBC Gateway Hotel in Minnesota.

PLG opens Chicago office

444 Michigan Ave

PLG closes $22.5 M for Hotel Blossom in Houston, TX, the then largest C-PACE deal in Houston.

Image of the Hotel Blossom in Houston, TX.

Morningstar DBRS upgrades PLG notes to “AA” Rating

Morningstar DBRS “AA”

PLG selected as 3rd fastest-growing Twin Cities private company by the Minneapolis/St. Paul Business Journal.

MPLS Fast 50

PLG opens its San Diego office

401 West A Street

PLG opens its NYC Office.

MPLS Fast 50

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