- Duluth, MN
- $3.7 Million
What is C-PACE?
A great fit for your project
What is C-PACE Financing?
Property Assessed Clean Energy (PACE) is a legislated public/private partnership which creates a new financing option for your capital stack. Your construction budget can use our private capital funding for costs which impact energy & water spend, renewable improvements or seismic strengthening (select states). The repayment of our capital is made through a long-term special tax assessment on the property.
C-PACE designates the Commercial version of PACE. PACE Equity exclusively funds commercial real estate projects.
Can I use PACE Equity and get green building verification?
Yes! PACE Equity now offers a low carbon option called CIRRUS™ Low Carbon financing which combines C-PACE financing with a low carbon verification by a third party. The program provides financial benefits, including a reduced rate, for pursuing enhanced energy efficiency. We add in a building plaque and marketing toolkit so your low carbon building gets the promotion it deserves. We’ll build a business case to show you how the financial benefits compare to any incremental design costs.
"We had a great experience with the whole team at PACE Equity. The team moved us quickly and professionally through the C-PACE process with no surprises."
Shawn Neece
Principal, Renew Partners
Which Improvements are Eligible to Calculate Available Funding?
It is not a requirement to change your building design when you work with PACE Equity. Projects can qualify with the design you already have planned.
Keep in mind that this is not an exhaustive list; every state has unique options for eligibility. Some states have special “Savings to Investment Ratio” requirements. In all cases, states and municipalities want to encourage sustainable building practices. C-PACE financing provides a win for developers/owners AND for communities.
One Minute Video
PACE Financing Eligible Improvements
What Kinds of Projects Does PACE Equity Fund?
- New Construction
- Renovation
- Redevelopment
- Retroactive Refinancing
- Building Expansion
- Value Add
- Tenant Improvements
- Capital Improvements
- Solar/Renewables
- Seismic Strengthening
What Asset Classes does PACE Equity fund?
C-PACE Requires 87 Steps… And We Do Them All
You don’t need to know all the C-PACE funding requirements – because we do! We’ve been working on C-PACE projects for the past decade. We have funded “firsts” across the country and across asset classes. As the C-PACE financing leader for development projects, PACE Equity has unmatched experience and unparalleled expertise to optimize your funding amount and move you seamlessly and simply through the financing process.
We’ve created a unique process that maximizes your funding and amortization term. We’ve learned from the hundreds of projects we’ve done across our own engineering and leadership teams. Our Fast Track™ Funding process delivers a seamless end-to-end experience you can only find at PACE Equity:
- Upfront analysis
- Upfront binding funding commitment (not just a term sheet)
- Required energy engineering that delivers maximum funding and term while eliminating any possible funding limits
- Design assistance (optional) with suggestions to optimize funding amounts
- Project governance
In short, we manage the details. You focus on your project.
"When everything else was complicated, PACE Equity stood out as easy."
David Crisafi
Principal, Ceres Enterprises
Why Should I Use C-PACE?
- Boosts project IRR
- Replaces higher cost mezzanine and equity capital
- Keeps your equity 100% internal for a larger ownership percentage
- Offsets high equity requirements with low-cost financing
- Reduces high-cost debt funds to lower your WACC
- Reduces personal risk with non-recourse funding
- Increases net operating income and property value
- Long-term, fixed-rate financing with up to 30-year terms
What’s the Difference between PACE and C-PACE?
You’ll find that we use the terms “PACE” and “C-PACE” interchangeably. PACE stands for Property Assessed Clean Energy and denotes a legislation that states and municipalities use to encourage sustainable building practices. C-PACE designates the Commercial version of PACE. PACE Equity exclusively funds commercial real estate projects.
Where Is PACE Equity Financing Available?
PACE Equity is available in states and cities across the U.S. and continues to grow. We believe in working locally and building long-term relationships. As C-PACE legislation expands, so do we.
Can I Get Funding for Completed Projects?
Yes! In certain states, retroactive refinancing is available for projects completed within the last 2 years. This is an excellent way to:
- Get access to liquidity reserves
- Reduce debt
- Refinance equity
- Cover cost overruns
You can take advantage of prior improvements which impact utility spend (HVAC, lighting, windows, etc.), renewable energy measures, and/or seismic retrofits (in certain states). Our engineers analyze your building improvements and then calculate the maximum amortization starting from when the improvements were installed. Your funding amount is based on this retroactive energy savings.
Read our Insights article on Retroactive Refinancing: How PACE Equity can help fund your recently completed renovation or development project.
More Questions? We Have Answers.
Review the Frequently Asked Questions from developers, owners & lenders.
Or contact us — we are glad to answer your questions and talk through your next project.
Short on time? Fill out an online application form to Get Started.
Video
Watch our 30 minute webinar on PACE Equity financing and the option for CIRRUS Low Carbon financing
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Questions? Interest? Ready for more? Let’s connect.
Here is where we can fund projects today
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