April 2019 News
Mansoor Ghori speaking at podium
By Mansoor Ghori, CEO, Petros PACE

Petros had a busy April!

PACENation Summit: We kicked off the month with the PACENation Summit here in Austin for the first time. Petros PACE Finance was proud to serve as Summit Event Sponsor at this exciting time for the C-PACE industry. I enjoyed seeing so many familiar faces. Every team member at Petros PACE Finance contributed to making the summit a success.  Jim Stanislaus, Tommy Deavenport, Rachel Davis and Josh Smith all moderated or participated in panel discussions and you can find session slides from all those panel discussions here.

Petros team members at the PACENation SummitIt was an enlightening three days that yielded some valuable takeaways. We saw an increasing growth and focus on the commercial side of PACE. Key priorities for the industry moving forward include continuing to educate mortgage lenders for consent and raising awareness among commercial real estate developers and owners.

ICYMI:  You can listen to my interview with Debtwire Radio’s ABS podcast discussing growing investor interest in C-PACE as an asset class here.

I also spoke with Global Capital at the Information Management Network’s (IMN) Green & SRI Investing Symposium about how new construction will drive C-PACE growth this year and why C-PACE is emerging as an alternative for new construction finance.

VP Josh Smith spoke at the PACENation Summit.Josh Smith spoke with Debtwire about how projects in Opportunity Zones can leverage C-PACE and the $1.2 million Toledo, Ohio transaction Petros closed in an Opportunity Zone in March.

Deals: This month we continued to break new ground with the first PACE deal in Lincoln, Nebraska, providing $1.7 million for the Lincoln Sports Facility. The deal was originated by Rob Shear and incorporated C-PACE into a complex capital stack alongside both TIF and NMTC funds. Read more.

New Team Members: The Petros team continued to grow, welcoming back Kyle Peczynski to serve as the Vice President of Underwriting and bringing on Marcia Leigh as assistant controller. These additions will help us continue to execute efficiently as we continue to build momentum.

Lincoln Sports ComplexUp next: We have some exciting projects in development. We’ll soon be launching a new solar PACE Lease product in the coming months through Petros Energy Solutions that will let commercial developers use the PACE mechanism to finance solar projects. This innovative new product will make solar projects more attractive for owners.

Education remains crucial to building the C-PACE marketplace and I’m looking forward to the Michigan PACE Summit tomorrow, where I’ll be discussing the anatomy of a PACE deal.

CFO & Co-founder Jim Stanislaus and SVP – Sales Rachel Davis spoke at the 2019 PACENation Summit.
CFO & Co-founder Jim Stanislaus and SVP – Sales Rachel Davis spoke at the 2019 PACENation Summit.

Mansoor Ghori
CEO, Petros PACE Finance