Loan program
C-PACE financing
Commercial Property Assessed Clean Energy financing for energy, water and resiliency improvements, repaid through a voluntary property assessment.
C-PACE (Commercial Property Assessed Clean Energy) lets owners of commercial, industrial, multifamily (often 5+ units) and nonprofit properties finance qualifying energy-efficiency, renewable-energy, water-conservation and, in some programs, resiliency improvements. Repayment is made through a voluntary special assessment on the property tax bill, typically over a long term matched to the useful life of the improvements.
Key features
- Available only where a state has enabling legislation and a local program is active
- Can fund new construction and retrofits; some programs allow retroactive financing of recently completed work
- Assessment generally stays with the property on sale, subject to program rules and buyer/lender consent
- Existing mortgage lender consent is usually required
Where it fits in the capital stack
Developers often use C-PACE to replace higher-cost mezzanine or equity for eligible building components. Program rules, eligible measures and terms vary by state and county.
Get financing from GlobusAll programs
Educational information only. Not legal, tax, municipal-advisory, investment or lending advice, and not an offer or commitment to lend or to issue bonds. District rules, thresholds and timelines vary by state and municipality; consult bond counsel and qualified advisors. Calculator outputs are illustrative estimates, not quotes or approvals.
Globus Capital Advisors
Considering C-PACE financing?
Globus Capital Advisors, a commercial loan broker, works with bank, agency, CMBS, debt-fund, SBA and bond-market lenders and can tell you whether this structure fits your deal.