Financing an Older Building? Think Clean.
It’s estimated that some 60% of US commercial building stock was constructed before 1980, according to Clean Fund’s Chris Robbins (right, with sales team members Joe Euphrat and Felicia Williams). Clean Fund’s financing, also known as Property Assessed Clean Energy, or PACE, is a new item in the capital stack, allowing much needed upgrades to these older buildings. By addressing the financing barrier, Clean Fund enables energy/water efficiency and renewable energy projects through long-term, fixed-rate financing that is paid back on the property tax bill. This structure does not require covenants or guarantees, stays with the building upon sale, and can be passed on to tenants as an operating expense under certain lease structures. For more info on our Bisnow partner, click here.
