C-PACE Financing in Nevada

PACE Equity Finance funds C-PACE loans in Las Vegas, Reno, Carson City, and other cities in Nevada

C-PACE provides a legislated pathway for commercial owners and developers to finance qualifying building improvements that reduce operating costs and enhance performance. With long terms and fixed repayment through the tax bill, it increases capital stack flexibility and improves overall project feasibility.

C-PACE Status: Active Program
Max Term: 30 years
Max LTV: 35%
Refinance Availability: 3-year lookback

$40 million C-PACE financing for new construction dual-branded hotel in Symphony Park district. Las Vegas, Nevada.

Nevada C-PACE Programs

Property owners can leverage C-PACE financing for commercial properties with qualifying energy and water conservation measures. In Nevada, the Clark County and Pershing County C-PACE Programs provide details and local guidance. The cities of Henderson, Reno, Sparks, Fernley, and Las Vegas participate in these programs.

Nevada C-PACE Financing Parameters

Property Types

Multifamily, Senior Housing, Industrial, Hospitality, Retail, Office, Storage

Eligible Projects

Renovation, Redevelopment, Refinance, New Construction, Renewable Energy

Term

Up to 30 years.

Amortization

Fully amortized over the term.

Interest Rate

Fixed rate over the term; spread over a 10-year UST.

Capitalized Interest

No payments during the construction period.

Recourse

Non-recourse, completion guarantee (on New Construction and major redevelopment).

Repayment

Paid through an annual or semi-annual tax assessment on the property.

Prepayment

Prepayable at any time, subject to step-down prepayment premium. No lockout.

LTV

Up to 35% property value.

DSCR

1.10 – 1.30 at stabilization.

Funding Time

Construction, Mid-Construction, Refinance — up to 3 years after completion.

C-PACE Financing Case Studies

SkyRidge Resort
$63.3 Million
Deer Valley, UT
  • Hospitality
  • New Construction
  • Refinance / Recapitalization
Meadow Valley
$25 Million
Traverse City, MI
  • Senior Housing
  • New Construction