MILWAUKEE, Jan 24, 2022 /PRNewswire/ — PACE Equity, the leader in funding C-PACE commercial real estate development projects, is announcing recently completed financing for projects it is supporting in the high-growth C-PACE industry, which include:
LARGEST C-PACE PROJECT IN MICHIGAN
PACE Equity closed on the largest Commercial Property Assessed Clean Energy (C-PACE) project in Michigan history. The $73.2 million senior housing project included a record $18.6 million in PACE Equity funding — 25% of the capital stack.
OFFICE/RETAIL COMPONENT AT THE HALL OF FAME VILLAGE POWERED BY JOHNSON CONTROLS
PACE Equity funded $8.3 million for a refinance of Constellation Center for Excellence, the office and retail component of a larger mixed-use development at the Hall of Fame Village powered by Johnson Controls in Canton, Ohio. “We are thrilled to work with PACE Equity who adds another strategic dimension to this financial structuring,” said Michael Crawford, president and CEO of HOFV.
LARGEST C-PACE REFINANCE IN WISCONSIN HISTORY
Another funding first for the C-PACE industry was reached last month when PACE Equity closed on the refinancing of two senior housing projects, resulting in the largest C-PACE refinancing project in Wisconsin history. The two projects provided retroactive refinancing for the recently completed senior housing projects serving the greater Milwaukee area. PACE Equity provided funding of $15.3 million for the combined projects.
FIRST C-PACE PROJECT IN SAN ANTONIO HISTORY
With the redevelopment of an historic downtown property, PACE Equity closed on $5.1 million funding for the Travis Building. The PACE Equity funding was part of the complex capital stack that included historic tax credits and Opportunity Zone equity.
ABOUT PACE EQUITY
Since 2014, PACE Equity has funded Commercial Property Assessed Clean Energy projects in innovative, never-before-seen ways, with better financing for better buildings. The PACE Equity team has closed over 200 C-PACE projects across the U.S. and enabled the energy efficient commercial development of over $1.5 billion while eliminating 2.5 million metric tons of carbon. PACE Equity offers the design and support that allow customers to intelligently meet the demands of today’s consumer and tomorrow’s requirements.
SOURCE PACE Equity