Minneapolis, Minnesota (April 15, 2024) – PACE Loan Group (PLG) continues its growth across the country, opening a New York City office this week and adding Loren Biller, an experienced originator as a Senior Vice President.  Biller will work alongside Robbie Pinkas, SVP, who joined PLG in April.

Biller, who has nearly 20 years of CRE experience, has spent ten years in originations for Ladder Capital and OWS Real Estate Finance. He’ll work closely with Pinkas, who has nearly four years of C-PACE experience, to serve property owners and developers in the NYC metropolitan area. NYC currently allows C-PACE for renovations, with an up to 30-year payback and three-year look-back for construction costs. Some changes to the NYC program are expected in the coming weeks that will expand the program to include new construction projects and make it easier for retrofits to qualify.

“We know there’s a ton of pent-up demand for C-PACE as an important financing tool in the capital stack for most developers and owners,” said Rafi Golberstein, chief executive officer and founder of PLG. “Loren will bring his strong origination skills to partner with Robbie’s C-PACE knowledge, which is a winning combination.” PLG opens its New York City office this week at One Liberty Plaza, and the team expects to add an analyst in the coming weeks. Biller and Golberstein previously worked together at Ladder Capital.

Most recently, Biller was vice president, Originations at OWS Real Estate Finance, where he originated CRE mortgage and mezzanine lending, managed the underwriting and loan closing process, and made investment recommendations. Before joining OWS, he was Associate Director at Ladder Capital Finance, where he originated and managed loan transactions.

“I’m excited to join PLG and focus on this growth category of finance,” said Biller. “It’s also a great opportunity to join such an impactful company with a great team.”

PLG now operates from four offices – the Minneapolis headquarters, Chicago, San Diego, and NYC. The leading direct C-PACE lender has completed more than 160 C-PACE loans across 19 states with institutional backing from AB CarVal, a subsidiary of Alliance Bernstein.