C-pace

What is C-PACE?

C-PACE (“Commercial Property Assessed Clean Energy”)  is a financing mechanism that allows commercial property owners to fund improvements to their properties. The financing is repaid over time through a special assessment on the property’s tax bill, making it unique compared to traditional loans, which are based on the borrower's credit.

Key Features of C-Pace Financing:

  • Non-recourse to the property owner and fully transferable with the property

  • 20-30 year amortization with tailored duration to meet project needs 

  • Principal is subordinate to senior mortgage and any other financing and can never accelerate. 

  • Payments due have priority repayment akin to property taxes.

  • Loan amounts of up to 20-40% of total project cost. Min size $7M.

  • Ability to accrue/capitalize interest for up to 3 years prior to payments being due

  • Interest only periods of up to 10 years (in most markets)

  • Flexible structuring in most markets with full amortization over the entire term

  • Annual call protection that burns off over time (structured on a deal-by-deal basis)

C-Pace Eligible Measures

    • Low Flow Fixtures

    • Waterless Systems

    • Commercial Washers

    • Irrigation Systems & Controls

    • Soil Moisture Sensors

    • Landscaping

    • Water Treatment & Reuse

    • Air Sealing

    • Ventilation

    • Insulation

    • HVAC

    • Lighting

    • Moisture Protection

    • Building Enveloope

    • Roofing

    • Water Heating

    • Refrigeration

    • Compressed Air

    • Charging Stations

    • Elevator Modernization

    • Seismic Structural Retrofits

    • Superstructure Strengthening

    • Storm Resistence

    • Waterproofing

    • Fire Resilience

    • Solar Panels

    • Wind Turbines

    • Fuel Cell Power Systems

    • Congeneration Engines

    • Geothermal Heat Pumps

  • in addition to eligible hard costs, pro rata share of related soft costs can qualify for C-PACE funding, including:

    • Design Costs

    • Energy and Seismic Audits

    • Engineering

    • Permitting

    • Inspections

    • Fees

C-PAce As a Capital Markets Solution

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