C-PACE Financing is expected to be available in New Jersey in 2023 and allows building owners and developers to access the capital they need to make energy-related deferred maintenance upgrades in their existing buildings, support new construction costs, and make renewable energy accessible and cost-effective.
20-30 years fixed-rate loan
Interest Rates 50% less than Mezz/Pref
100% Non-Recourse upon completion
100% Financing of eligible measures
Obligation may be transfered on
sale or prepaid
Tailored step-down prepayment
$5,000,000 – $5,00,000,000
All states with active C-PACE programs and continually expanding (Currently): AK, AR, CA, CO, CT, DE, FL, IL, KY, MA, MD, MI, MN, MO, MT, NE, NM, NV, NY, OH, OK, OR, PA, RI, TN, TX, UT, VA, WA, WI, & DC
Capitalized interest reserve during construction
Maximum LTV 30% for new construction/rehab based on the as-stabilized or as-complete property value.
Maximum LTV of 3 5 % for retrofit based on the as-stabilized or as-complete property value.
Milestone-based disbursement schedule; generally pro rata with senior lender for new construction/rehab projects.
No lockout period, yield maintenance or exit fee
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