How C-PACE Becomes More Appealing For Capital Stacks Amid High Interest Rates

Bisnow spoke with PLG CEO Rafi Golberstein about C-PACE trends he is noticing across the nation, particularly in New York City, how PLG educates its clients on the process, and what to look for in the future.

Bisnow: What changes are you seeing in C-PACE financing nationwide?

Golberstein: There is a large legislative push at the state level to update and expand the boundaries of what C-PACE is and what it can do. On the West Coast, we've started to see the adoption of what people refer to as C-PACER, adding an “R” on the end, which stands for “resiliency.” The concept is adding resiliency into the statutes, which provides funds for making buildings more resistant to climate change and natural disasters. 

Nationally, we're seeing retroactive PACE, where people are using PACE as a source of liquidity for projects that are struggling to refinance out of their current debt positions.