PACE Loans in Portland and the State of Oregon

PACE Equity Funds Local Developments

PACE Equity is a long term, fixed rate, non-recourse private capital source for developers and building owners. We fund elements related to energy efficiency, renewable energy, and seismic resiliency through a public-private partnership established in Oregon in 2014. We are repaid via a special tax assessment that can stay with the property at sale. Through the Oregon Commercial Property Assessed Clean Energy (C-PACE) program, we can provide funding for new construction, renovation, and retrofits, replacing more expensive funding and reducing out of pocket investment. Since 2014, PACE Equity has funded well over 200 PACE projects with a focus on delivering improved return on equity for our clients.

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CIRRUS

PACE Equity offers the only C-PACE financing option with a lower cost of capital when a project meets our lower carbon design criteria. CIRRUS Low Carbon financing provides a substantial rate reduction plus operational savings and a Green Building designation and promotional package that makes your building more appealing to tenants. Our Low Carbon Team will help you meet the design criteria as part of our end-to-end process.

CIRRUS Low Carbon Details

PACE Financing Expert

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Don Schulz is our Oregon Originations Leader. With over 28 years of experience in commercial real estate, Don has built a diverse career across various roles and sectors. He is a Certified Commercial Investment Member (CCIM), a Certified Mergers & Acquisitions Professional (CMAP), and Washington licensed real estate broker. Reach out to him to schedule a meeting and discuss your next project.

Local PACE Programs

Oregon’s C-PACE programs are administered by three different authorities: Deschutes County C-PACE, PropertyFit for Portland and Multnomah County, and Washington County PACE. Energy improvements made in Portland and Multnomah County must be 5% over code for new constructions and major renovations. Qualifying improvements for PACE Equity financing in Oregon include energy efficiency, renewable energy, water conservation, and seismic rehabilitation improvements. PACE Equity’s Building Optimization and Energy Engineering Teams expertly manage the process end-to-end, from application to the required energy audit and project evaluation, to close and funding.

Oregon Energy Performance Standards

Energy Performance Standards: Oregon enacted HB 3409 in 2023, mandating energy performance standards for public, government, multifamily, and commercial buildings of a certain size. The goal is to reduce energy use by 45% by 2035 and 80% by 2050. Specific performance metrics and standards are currently under development.

PACE Equity financing can be used to cover 100% of the costs for renovations and retrofits pertaining to energy efficiency measures. Our in-house engineers, working in our Low Carbon Center of Excellence, are experts in low carbon building design and optimization. When you work with PACE Equity, we can help you fund the upgrades you need to do to comply with EUI targets. Receive our lowest rate for commercial renovation projects with our CIRRUS fund, our one-of-a-kind C-PACE program that offers lower interest rates for developments built to a low carbon engineering specification. When you renovate to meet EUI requirements, CIRRUS and its lower rates can be a great solution. For more information Building Performance Standards visit the Institute for Market Transformation website.

Relevant PACE Equity Case Studies for Portland and the State of Oregon

Here are some recent case studies of projects you might find interesting. We’ve got more project stories that show the many ways we’ve helped deliver PACE financing.

Questions? Interest? Ready for more? Let’s connect.

Here is where we can fund projects today

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