444 S. Flower
C-PACE Improvements
The $24 million in PACE financing was used to refinance common area upgrades, efficient HVAC, and modernized elevators installed over the past three years. This freed up funds that can be used to reduce total debt and attract new tenants amid the return-to-office movement. Furthermore, the improvements are aligned with the borrower's mission to implement environmental, social and governance (ESG) principles that will reduce expenses and contribute to a more sustainable environment.
In The Press
LA Finance District Office Tower lands $24 million retroactive C-PACE financing
Minneapolis, Minnesota (Jan. 13, 2025) – PACE Loan Group closed a $24 million C-PACE loan for 444 S. Flower St., Los Angeles, CA, to finance improvements made to elevators, HVAC, plumbing, lighting, and exteriors. Funds managed by Oaktree Capital Management, L.P. (“Oaktree”) plan to use the proceeds to reinvest in future tenant improvements and capital expenditures in the 48-story, 910, 672 sq. ft. office tower in the heart of Bunker Hill.
PACE Loan Group Supplies $24M C-PACE Loan for L.A. Office Tower
Funds managed by Oaktree Capital Management have sealed $24 million of retroactive Commercial Property Assessed Clean Energy (C-PACE) financing to fund 444 S. Flower development.
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