Stonehill’s CPACE group has closed or is under contract with approximately $225 million in commercial property assessed clean energy (“C-PACE”) financing year-to-date. These are across 23 transactions that span most real estate sectors, including hotels, multifamily, industrial, and mixed-use. In addition, the CPACE group expects to deploy up to $400 million in 2023 for renewable […]
C-PACE: An Affordable Solution for Construction Issues and Cost Overruns
By Jared Schlosser, senior vice president, Stonehill Commercial Property Assessed Clean Energy (C-PACE) is an innovative financing program that is gaining popularity across the U.S., as it offers a low-cost, long-term capital solution that doesn’t require upfront equity from the property owners. The central appeal for using this program for energy-efficient upgrades and retrofits is […]
Stonehill PACE Originates $16.3 Million CPACE Financing for Multi-Family Project in Tacoma, Wash.
TACOMA, Wash. and ATLANTA, Ga. – Stonehill PACE officials announced the company originated its first commercial property assessed clean energy (C-PACE) financing in the state of Washington with a $16.3 million loan for the Cornus House, a new 199-unit multifamily project with 1,233 square feet of retail development. Washington is one of 34 states that […]