Multi-Housing News Excellence Awards

Transaction of the Year Graphic

In recognition of PACE Equity’s industry leadership and influence in commercial real estate, PACE Equity project Residences at the Agora was named a Best Transaction (Silver) by Multi-Housing News in its 2023 Excellence Awards, which honor the nation’s best multifamily developments, programs, and professionals.

As the first property to achieve PACE Equity’s CIRRUS Low Carbon verification, Residences at the Agora in Cleveland, OH, earned the attention of the Multi-Housing News Excellence Awards panel, who selected winners from a pool of national nominees.

Project developer Renew Partners leveraged the building’s green design to access a lower cost of capital, integrating $2.3 million of PACE Equity funding into the capital stack. The building’s energy-efficiency improvements will yield energy savings of 73,080 kWh and 185,176 gallons of water annually, and 1,166 metric tons of CO2 over the lifetime of the project.

New York State Managing Director Eli Terry accepted the Excellence Award for Best Transaction on behalf of PACE Equity at Multi-Housing News’ awards ceremony in New York City on November 30, 2023.

In addition to the Multi-Housing News Excellence Awards panel, PACE Equity thanks developer and recurring PACE Equity client Renew Partners for their partnership and congratulates fellow Excellence Award winners on their achievement.