How C-PACE Financing Can Help Fill In The Gaps For CRE Projects In A Troublesome Market
Bisnow, John Knowles | September 12, 2023
With traditional lenders reluctant to fund new real estate projects, developers are seeking other financing sources.
An increasingly popular option is Commercial Property Assessed Clean Energy, or C-PACE, financing. C-PACE helps reduce a developer’s upfront costs by providing the bulk of financing for projects through a long-term fixed repayment plan.
PACE Loan Group, a national direct lender based in Minnesota, helps developers and owners secure C-PACE financing for both new-construction projects and existing buildings.
“We’ve been in the C-PACE lending business for six years and are well-versed in every aspect of this lending tool,” PLG CEO Rafi Golberstein said. “We take a two-step approach to C-PACE: educate and execute. We educate each of our clients on how C-PACE financing can improve their capital stack, like by reducing expensive mortgage debt, and then move to a quick and efficient closing.”