Petros Supplies $27M C-PACE Loan on Chicago Multifamily Development

Joint venture between Melrose Ascension Capital and Singapore’s Q Investment Partners (QIP) has secured $26.5 million of Commercial Property Assessed Clean Energy (C-PACE) financing for its planned 18-story residential tower in Chicago.

Petros PACE Finance supplied the C-PACE loan as part of an overall $63.7 million construction financing package on the 117-unit 633 S. LaSalle led by Glacier Global Partners and BH3 Management, Urbanize Chicago first reported. Bank Julius Baer and undisclosed private investors provided an additional $26 million of equity.

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