C-PACE Financing in Maryland

PACE Equity Finance funds C-PACE loans in Baltimore and other cities in Maryland

Commercial Property Assessed Clean Energy (C-PACE) is a private-capital financing tool that delivers fixed-rate, non-recourse funding with amortization terms of up to 30 years. It can be used for recapitalizations, retrofits, and new developments, with repayment structured as a non-accelerating property tax assessment that transfers with the property or can be prepaid at any time.

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

Explore PACE Equity Finance’s tailored C-PACE capital solutions across hundreds of projects.

MDPACE

The Maryland C-PACE program is administered by the Maryland Clean Energy Center. 19 Maryland counties have enacted C-PACE enabling legislation, with the Montgomery County and Prince George’s County programs operating independently. Eligible C-PACE financing measures include those impact energy efficiency, renewable energy, water efficiency, resiliency, and environmental remediation.

Maryland 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
SIXTY DC Hotel
$22.5 Million
Washington, D.C.
  • Hospitality
  • Redevelopment
  • Refinance / Recapitalization
Meadow Valley
$25 Million
Traverse City, MI
  • Senior Housing
  • New Construction