Sustainable REAL ESTATE Solutions
overview
North Bridge sits at the intersection of real estate and sustainability.
We provide financing nationwide for buildings across all asset classes through C-PACE (Commercial Property Assessed Clean Energy). C-PACE is a long-term, fixed-rate, ESG credit product that facilitates energy efficiency, water efficiency, and seismic or storm resiliency improvements for real estate. C-PACE helps borrowers to reduce operational emissions and expenses by improving efficiency at the property level.
Borrowers can use the capital proactively to decrease a building's carbon footprint or improve its resiliency, and retroactively to strengthen a capital stack. C-PACE has a myriad of uses including: large scale renovations, new construction, acquisition financing, refinancing and rescue capital.
North Bridge helps tackle and address the built environment’s role in climate change one property at a time. North Bridge is a woman-owned lender and servicer.
c-pace
C-PACE (Commercial Property Assessed Clean Energy) is a flexible form of ESG financing that allows borrowers to obtain low-cost, long-term, fixed-rate, pre-payable funding in exchange for making efficiency or resiliency upgrades to buildings. The proceeds are collateralized by a special assessment on the property and the interest and/or principal payments are paid back as a line item on the property tax bill for the duration of the useful life of the improvements (generally 20-30 years). The property tax bill will increase by the interest and/or principal payment due that period.
C-PACE funds can be used for renovations or new construction.
Additionally, if eligible work was completed within the past three years, funds can be provided retroactively and used for liquidity injections, lender pay-down, reserves, TIs/LCs or refinancings, etc. C-PACE is currently available in 30+ states.
Depending on location, a project does not need to be LEED Platinum or Passive House to qualify for some of the financing.
c-pace eligible measures
C-PACE eligibility varies by program, but here is a representative list of items that could count.
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• Low Flow Fixtures
• Waterless Systems
• Commercial Washers
• Irrigation Systems & Controls
• Soil Moisture Sensors
• Landscaping
• Water Treatment & Reuse
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• Air Sealing
• Ventilation
• Insulation
• HVAC
• Lighting
• Moisture Protection
• Building Envelope
• Roofing
• Water Heating
• Refrigeration
• Compressed Air
• Charging Stations
• Elevator Modernization
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• Seismic Structural Retrofits
• Superstructure Strengthening
• Storm Resistance
• Waterproofing
• Fire Resilience
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• Solar Panels
• Wind Turbines
• Fuel Cell Power Systems
• Cogeneration Engines
• Geothermal Heat Pumps
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In addition to eligible hard costs, a pro rata share of related soft costs can qualify for C-PACE funding, including:
• Design costs
• Energy and Seismic audits
• Engineering
• Permitting
• Inspections
• Fees
about
North Bridge is designed to create sustainable financing solutions that serve the intersection of real estate, technology, and sustainability. As a women-owned lender and servicer, we are a one-stop-shop for our clients helping to simplify complex financial and sustainability problems and provide innovative solutions that improve the built environment and usher in a greener future for all.
LEADERSHIP
Our team, led by CEO and founder, Laura Rapaport, brings a diverse set of skills and decades of exceptional institutional commercial real estate experience. Additional benefit is derived by a best-in-class advisory board of CRE market leaders. North Bridge continues to be a trusted sustainability and finance partner for owners, lenders, and investors nationwide.
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Laura Rapaport
FOUNDER & CEO
laura@northbridgeops.com
Prior to founding North Bridge, Laura was a Managing Director at L&L Holding Company, an owner-operator and developer in New York City. She was a key member of the leadership team member for almost a decade including roles running Capital Raising and as Development Manager of 425 Park Avenue. Laura’s previous experience was as a Director in the New York development group of Tishman Speyer. She started her career at Lehman Brothers in their Global Real Estate Group in London.
Laura graduated cum laude from the University of Pennsylvania and received her MBA with honors from the Wharton School of Business. She is on the board of PACENation, Member and former Board Member of WX, Co-founder of Penn Women in Real Estate, ULI District and National Council Member, C-PACE Alliance Member and was named by Crain’s Magazine as one of New York’s 2017 “40 Under 40” Rising Stars.