c-pace
THE PRIMARY CAPITAL GAP SOURCE
C-PACE is a financing tool that allows a carve out for additional funding that can be used to finance the energy and renewable energy improvements on commercial property. Up to 30% Gap Capital Potential with Fixed Rates and up to 30 year amortizations.
C-PACE PROJECT SCOPE
New Construction
Building Retrofit
Recapitalization
Gut Rehab
Adaptive Reuse
Energy Upgrades
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C-PACE PROJECT USES
Capital Gap
Hotel PIP
Reduce or Replace
Equity / Mezzanine
Cost Overruns
Retroactive Financing
Solar or Renewable Building Additions
C-PACE is non recourse debt paid through property assessment that potentially allows up to 90% LTC / LTV on a project.
CAPITAL GAP FINANCING
ADDITIONAL CAPITAL OF UP TO 30% LTV ON YOUR NEW CONSTRUCTION PROJECTS
Amount available determined by eligible improvements and straightforward underwriting metrics
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What can be financed
The Energy Improvements from your construction budget can be carved out under the C-PACE allowable line items providing additional capital for your commercial projects
Roofing
Electrical
Solar & Renewables
Plumbing
Conveying Equipment
HVAC
Air Quality
Windows
Insulation
Internal Controls
Building Envelope
Seismic & Resiliency
-Criteria used to determine
FUNDING POTENTIAL
-Eligible Improvements
CONSTRUCTION BUDGET
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A detailed construction budget to review each line item for CPACE eligibility.
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The complete budget including site, soft, hard costs and contingencies to maximize eligible improvements for funding.
-Combined Debt Service Coverage
STABILIZED NOI VALUE
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3-4 year proforma showing stabilized NOI
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Construction Start Date
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Construction Completion Date
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Stabilization Year
-Up to 30% LTV
STABILIZED RE VALUE
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Total Project Cost from site acquisition to completion
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Stabilized Value of Project
-Minimum 10% equity with low cash portion
SOURCES AND USES
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Breakdown of all sources of capital for the project
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Estimated senior debt permanent amortization and rate
STATES WITH CURRENT PROGRAMS
California
Alaska
Arizona
Colorado
Hawaii
Idaho
Montana
Nebraska
Nevada
New Mexico
Oklahoma
Oregon
Texas
Utah
Washington
Connecticut
Delaware
Florida
Georgia
Illinois
Kentucky
Maryland
Massachusetts
Michigan
Minnesota
Missouri
New Jersey
New York
North Carolina
Ohio
Pennsylvania
Rhode Island
Tennessee
Virginia
Washington, D.C.
Wisconsin