Portfolio Partner Profile
PACE Equity Finance
Property Assessed Clean Energy financing, or PACE financing, is low-cost capital used to make energy efficiency improvements to commercial buildings – office, multifamily, senior housing, hospitality, retail and others. The improvements typically include efficient HVAC, lighting, windows, roofing, and seismic support (where applicable), as well as renewable energy such as solar. Once the improvements are complete, the building owner or developer gradually repays the PACE financing over a term of 20 to 30 years. PACE is a public/private partnership legislated by the state, providing a financing vehicle for commercial development and renovation projects that reduce utility and water expenses or add renewable energy and building-resiliency measures.
PACE Equity Finance provides financing for building modernization, redevelopment, or ground-up new construction. With over $1 billion funded and backed by their parent company’s $26 billion AUM, PACE Equity Finance’s capital is long-term, fixed-rate, and non-recourse, which enhances returns and moves projects forward. PACE Equity Finance provides end-to-end execution for building owners and developers leveraging their in-house energy engineering expertise to optimize the funding potential of every project.
The properties featured below have been or are currently in the warehouse facility.
Featured Impact Story
Impact Story
New Perspective Senior Living
New Perspective is a senior housing facility located in Milwaukee, Wisconsin. The facility focuses on providing care-oriented assisted living and memory care services for its residents. The community meets its members' needs through a friendly, welcoming environment where residents can exercise their minds, engage in physical fitness, and receive nutritious meals each day.
With PACE Equity Finance’s support, this is the largest retroactive refinancing project in Wisconsin and the second largest PACE loan ever completed in the state. This partnership provides an opportunity for New Perspective to refinance equity prior to stabilization, allowing for continued growth in the dynamic senior living sector. The project saves 43,350 metric tons of CO2, equal to the annual emissions from approximately 9,428 passenger cars.
Impact Story
The C.M Paula Manufacturing
C.M. Paula is a second generation, family-owned manufacturing company based in Mason, Ohio and was founded in 1958 as a small greeting card supplier. The company then evolved into a leading developer and marketer of greeting cards, stationery, and novelty products. In 2005, C. M. Paula shifted from a supplier of consumer products to a management company of multi-faceted marketing firms. The firm is dedicated to supporting the diverse companies it purchases, holds, and grows so their associates can flourish. C.M. Paula now operates four companies.
In 2022, the C.M. Paula began an expansion project to allow for additional manufacturing space, adding 36 thousand square feet of warehouse and production space. The company also added solar PV panels to make the site net zero during certain times of the year. This project saves 3,985 metric tons of CO2, equal to annual emissions from 887 passenger cars.
Impact Story
Lincoln Park Apartments
Lincoln Park Apartments opened in June 2022 in Duluth, Minnesota. The property is located in the Lincoln Park Craft District and features one- and –two-bedroom units, as well as parking for residents. The developer used PACE Equity Finance retroactive refinancing which PACE Equity Finance offers for projects that are completed by as many as three years prior, depending on local C-PACE guidelines. This allows the owner to retroactively capture the financial benefits from the previously installed energy efficiency measures. Developers can draw out liquidity, free up capital for their next project, improve their overall cost of capital, or use the refinance as a bridge to permanent debt when they add low-cost, fixed-rate, non-recourse capital from PACE Equity Finance. Overall, the Lincoln Park Apartments project saves 4,116 metric tons of CO2, which is equal to annual emissions from 916 passenger cars.
The information presented is provided by our portfolio partners for general informational purposes only. We have not independently verified for accuracy or completeness. The testimonials presented reflect the personal experiences and opinions of portfolio partners and their investees, and do not guarantee the same results for others.
Environmental Sustainability
Renewable Energy
