New C-PACE Alliance Publications Provide Guide to Combining C-PACE With Other Financing Tools
WASHINGTON, Oct. 24, 2019 /PRNewswire/ — C-PACE Alliance announced today two new publications on combining Commercial Property Assessed Clean Energy (C-PACE) financing with other financing products. With the recent launch of C-PACE in New York City, Illinois, Pennsylvania, and Virginia, these publications can guide financers seeing C-PACE in the capital stack of commercial real estate transactions for the first time.
C-PACE is an alternative financing mechanism for property upgrades that improve energy efficiency, utilize renewable energy, conserve water and more. C-PACE enables owners of commercial, industrial, multifamily, and nonprofit properties to obtain low-cost, long-term, fixed-rate financing from private capital providers.
The Mortgage Lender’s Guide to C-PACE: Lender Consent describes why a senior lender can find it advantageous to consent to C-PACE financing. C-PACE financing increases property value and cash flow. To date, hundreds of lenders have consented to C-PACE financing in 2,000+ projects exceeding $1 billion in financing.
The Statement on C-PACE, HTC Equity and the Use of SNDAs explains how C-PACE financing and Historic Tax Credit equity complement one another. The combination helps rehabilitate historic buildings with more energy conservation measures in the project.
“C-PACE is a unique form of financing – it can benefit the property owner’s cash flow while creating broader public benefits, too,” said C-PACE Alliance Executive Director Cliff Kellogg. “That’s why our members want to share their experience on what works.”
The CPA papers are available here.
C-PACE Alliance is a coalition of capital providers and transaction experts committed to achieving the public benefits of C-PACE by increasing the volume of quality transactions. CPA members have advised on program design in Pennsylvania, Virginia, and New York State. C-PACE Alliance supports the broader industry building efforts of PACE Nation.
Originally published on Cision PR Newswire