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Largest C-PACE transaction in Pennsylvania supports Class A office building energy efficiency retrofit in Center City Philadelphia
| | | | | | | $25.57MM C-PACE financing for iconic Center City Philadelphia office
Largest C-PACE transaction to date in Pennsylvania supports Class A office building by Independence Hall- I/O (interest only) payments before fully amortizing
- Proceeds applied towards completed energy efficiency work
- Fast execution helped the client meet deadlines for maturing debt and tax enrollment
CSRE Parameters | Financing Amount | $1 mm - $1 billion | | Property Location | Nationwide, subject to availability | | Project Scope | Upgrade/retrofit, new construction and previously completed | | Property Types | Most commercial or multifamily property types | | Ownership | Private ownership.
Leasehold or third-party ownership | | Tenancy | Stabilized or unstabilized | | Term | 5 to 30 years | | Amortization | No balloon payments, self-amortizing, I/O period available | | Maximum financing to value | Up to 35% of pro-forma value | | Maximum Combined LTV | Up to 95% | | Prepayment Provisions | Flexible prepayment terms | | Recourse | Non-recourse | | Time to Close | 2 -10 weeks | | | | | | | | | | | | |
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