News

PACE Loan Group’s Senior Vice President Matthew McCormack arranged a $6.2 million PACE loan that was part of $32.8 million refinancing of the Northbrook Renaissance in Northbrook, IL.

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.

PACE Loan Group was recognized today as one of the Fast 50 growth companies in the Twin Cities by the Minneapolis-St. Paul Business Journal. This recognition comes from three years of an average of 89% growth per year through the company’s focus on providing C-PACE financing to commercial real estate property owners.

Among our panel of experts will be Matthew McCormack, SVP, originations with PACE Loan Group (PLG), who will provide insights into the benefits of PACE (Property Assessed Clean Energy) and C-PACE (Commercial Property Assessed Clean Energy) financing. We spoke with McCormack to set the stage; his responses appear below.

PACE Loan Group closed a $13.82 million C-PACE loan for a 151-room conversion from a hotel into workforce housing in Kissimmee, FL. The borrower plans to complete the renovation and open the low-rise/garden apartment complex at 2950 Reedy Creek Blvd. in May 2024.

With the current economic uncertainty and resulting pull back on mortgage lending, CRE developers and owners are seeking out alternative sources of financing for their properties.

PACE Loan Group (PLG), a national leader in Commercial Property Assessed Clean Energy (C-PACE) financing, closed a $13.82 million C-PACE loan for a 151-room conversion from a hotel into attainable, workforce housing in Kissimmee, Osceola County, Florida.

PACE Loan Group, a national leader in Commercial Property Assessed Clean Energy & Resilience (C-PACER) financing, closed a $5.5 million package for the Aviator Hotel, the largest of its kind in Alaska.

PACE Loan Group (PLG), an industry leader in the emerging financing tool, C-PACE (Commercial Property Assessed Clean Energy), had two of its leaders recognized at the annual PACENation Summit, June 6-7, 2023, in New York City.