We’re honored to be recognized once again as Lender of the Year by REJournals. This repeat award celebrates our continued leadership in advancing the industry through innovative financing strategies for commercial real estate development.
In 2024, PACE Equity made significant strides in financing impactful projects across Illinois and the U.S.—a reflection of our unwavering commitment to providing better financing for better buildings. This year’s recognition highlights our work on two transformative projects in Chicago.
One project involved a 20th-century Chicago building originally acquired for conversion into a spec loft office. After COVID shifted demand away from office space, the developers pivoted to meet a growing need—storage. The building was transformed into a 1,150-unit ExtraSpace Storage facility, with our financing being used to pay down a portion of the mortgage loan and complete renovations.
Also recognized as part of this year’s award, the LG Group Offices involved the recapitalization of the firm’s fully renovated, three-story Chicago headquarters. PACE Equity funded post-completion, replacing owner equity with low-cost, fixed-rate financing.
This award was presented to us in June at the 2025 Illinois RE journal Real Estate awards ceremony. Originations Leader Julie Sommese, accepted the award on behalf of PACE Equity.