For Immediate Release
September 10, 2015
PACE Equity Offers $200 Million and Expanded Resources in 7 States to Develop & Fund Commercial Real Estate Projects Nationwide
Additional funding and expansion of its team of Market Leaders nationwide offers greater access to project financing
(Milwaukee, WI) – PACE Equity, a leading provider of PACE commercial real estate financing, turnkey project development, and energy engineering services, is pleased to announce the availability of an additional $200 million in new financing as well as the expansion of its expert team of Market Leaders in key U.S. cities nationwide. Together, these two developments will greatly enhance the ease with which commercial building owners and developers in both the private and non-profit sectors can successfully fund building rehabilitation, redevelopment, and new construction projects.
While several financing options have historically been available to help America’s building owners and developers fund real estate projects, most traditional forms of financing aren’t always affordable or don’t necessarily cover energy-efficient upgrades. By contrast, PACE – Property Assessed Clean Energy – presents an innovative new approach to financing commercial real estate development or beneficial energy efficiency measures. Coordinated with local governments, PACE funding is repaid via a long-term property tax assessment and covers 100% of the costs to complete a transaction. This revolutionary approach can provide a portion of a capital stack with no up-front cash investment, representing equity to a building owner or developer and allowing them to preserve the investors’ capital.
In addition to offering a wealth of new funding to the marketplace, PACE Equity has expanded its existing team of Market Leaders currently serving Ohio, Florida, Missouri, and Wisconsin to include the following industry veterans, whose added presence in California, Texas, and Michigan will help provide greater access to PACE Equity’s exclusive financing proposition and expert services:
- Robert Johnson (Market Leader, Northern California) – a former CPA and current certified general real estate appraiser in California, Johnson is a commercial real estate industry veteran with over 20 years of experience in the investment management field as an asset/portfolio manager, independent fiduciary and business development professional.
- David Emmerich (Market Leader, Austin, Texas) – a former director of professional services for leading commercial lending organization Noesis, Emmerich has over 20 years of experience in engineering, product development, marketing, and financing within the energy efficiency and building technology arena.
- Matthew Harrigan (Market Leader, Southern California) – with over a decade of experience in the energy and real estate finance sectors, Harrigan brings demonstrated expertise in such areas as acquisitions, investment banking, equity research, commercial lending, and real estate brokerage.
- Robert Mattler (Market Leader, Michigan) – a Board Member of the Detroit Chapter of the U.S. Green Building Council (USGBC), Mattler has amassed over 30 years of experience in the fields of real estate law, brokerage, and green building consulting.
- Ethan Elser (Dir. of Corporate Development) – a proactive leader with extensive experience in real estate asset management and development, with a specialization in the use of energy-efficiency measures to increase cash flow, Elser is responsible for the company’s marketing activities, project development, and sales growth.
“With our recent infusion of new capital, expanded organization, and proven turnkey approach, PACE Equity is ideally positioned to connect the nation’s commercial buildings to the new PACE Equity financing resource that will boost return on investment (ROI) and benefit the environment,” said Beau Engman, Founder and President of PACE Equity. “We are now active in 7 states and this brings us closer to our goal of having a local presence in every commercial PACE market.”
“Our capital gives customers predictability of pricing, process, and timing – which are critical in the success of PACE Equity’s growth in new markets” said Kevin Moyer, PACE Equity’s, Partner and Chief Investment Officer. “This also gives us the ability to be very customer centric as we can directly manage financing terms to meet individual developer/owner needs.”
About PACE Equity
Headquartered in Milwaukee, WI, PACE Equity is a leading provider of PACE — Property Assessed Clean Energy — commercial real estate financing. By utilizing the innovative PACE tool, which offers long-term, fixed rate, non-recourse financing, commercial building owners and developers involved in building rehabilitation, redevelopment, or new construction projects can now access funds that can both serve as a portion of a capital stack and support the installation of modern, energy-efficient, and cost-saving technologies. PACE Equity’s unique, new financing approach, turnkey project development, and energy engineering services are helping commercial building owners and developers’ nationwide develop new projects, improve asset valuation, and realize environmental benefits. For more information on PACE Equity or the PACE financing approach, call Ethan Elser at (414) 446-3645 or visit www.pace-equity.com.