Kevin McMeen has taken the conn at Petros PACE Finance, a strategic move for the company that reflects clear ambitions in the C-PACE and structured real estate finance arena. McMeen, the new president and CEO, arrives with decades of experience leading real estate finance platforms and a deep understanding of middle market real estate; his appointment positions Petros to scale and take C-PACE in new directions.
A Career Built on Real Estate Strategy
McMeen brings a track record of success from his time at MidCap Financial, where he built and led a thriving real estate group. Under his leadership, the platform expanded its scope to cover all major asset classes, including operating assets like healthcare, senior housing, skilled nursing, and hospitality. His team managed a $1.2 billion portfolio with a disciplined focus on credit—an essential trait for navigating the middle market landscape.
“Leading Petros is an opportunity to leverage the skills I developed as a founder of MidCap’s real estate business,” McMeen says. “It’s a chance to apply my experience heading real estate groups within larger institutions to drive thoughtful, sustainable growth at Petros.”
Vision for Petros: C-PACE and Beyond
Petros PACE Finance has long been a pioneer in C-PACE (Commercial Property Assessed Clean Energy) financing—and McMeen sees a lot of opportunity in the tea leaves. Rather than labeling Petros as a C-PACE lender, he aims to position it as a full-fledged real estate structured finance company, leveraging Petros’ real estate DNA to offer creative, insightful, flexible capital solutions.
“C-PACE is how we deploy capital, but the core of our business is structured real estate finance,” he explains. “That orientation allows us to differentiate from other C-PACE lenders by providing smart structuring, reliable execution, and experienced underwriting.”
McMeen sees real opportunity to deepen Petros’ presence in the senior housing sector. Given demographic trends and evolving care models, he believes the space is primed for development, refinancing, and construction financing supported by sustainable initiatives.
Scaling Up: C-PACE goes Institutional
McMeen is also focused on unlocking institutional-scale C-PACE, targeting $200–$400 million transactions. While this concept has been circulating for years, the timing is finally right.
“The difference now is our ability to deliver a cost-effective solution. As the senior most position in the debt stack, our pricing needs to reflect that—below first mortgage debt in terms of risk and pricing,” he says. “We are now at a position with our capital markets partners and investors to be able to propose price-competitive financing solutions.”
The Petros Approach: Identifying the Deal
What makes a deal truly viable at Petros? It’s about fundamentals: risk, reward, and scale.
“The deal has to be sound from a credit standpoint—if it’s not, we move on. If it is, we need to ensure the return justifies our resources. It’s not just about relative return, but also whether the absolute cash return warrants the effort,” says McMeen.
While C-PACE lending typically involves low leverage and inherently conservative credit positions, McMeen emphasizes that cash flow consistency is a more nuanced challenge.
“We’re not just underwriting the risk of loss—we’re underwriting the sponsor’s ability to make timely payments. That takes deep real estate expertise, an understanding of the asset’s business plan, and the credibility of the sponsor.”
This philosophy drives Petros’ deal evaluation process. The firm combines seasoned underwriting, real estate acumen, and capital markets fluency to ensure it delivers on its mission: structuring the right deals, for the right partners, with the right capital solutions.
The Future of Sustainable Finance
Looking forward, McMeen is committed to broadening the adoption of C-PACE financing nationwide, helping to shape programs that are more aligned with market needs and easier for developers to implement. Raising awareness, pushing policy innovation, and delivering seamless borrower experiences are all part of his roadmap.
“Our goal is simple: to be the best C-PACE provider in the market, that means the best originations team, the best credit performance, and the most compelling value proposition for our borrowers.”
With McMeen now at the helm, Petros PACE Finance is poised to not only lead—but redefine—the future of sustainable real estate finance.