If you own a commercial or multifamily property, you may be looking for ways to increase the capital of your development. One option to consider is C-PACE (commercial property assessed clean energy) financing.
What is C-PACE? C-PACE is a financing tool that allows property owners to fund energy-efficient and renewable energy upgrades to their properties. The financing is provided through private capital providers and is repaid through a voluntary assessment on the property's tax bill.
How can C-PACE help boost the capital of my development? There are a few ways that C-PACE can help boost the capital of your development:
- Energy-efficient upgrades can reduce energy costs, which can increase the profitability of your property.
- C-PACE financing can be used to fund a wide range of upgrades, including HVAC systems, insulation, and solar panels, which can increase the value of your property.
- C-PACE financing is often easier to obtain than traditional financing, as it is secured by a voluntary assessment on the property's tax bill rather than the property itself.
What are the benefits of using C-PACE? In addition to the potential for increased capital, there are several other benefits to using C-PACE financing:
- C-PACE financing is typically a long-term solution, with terms of up to 25 years. This allows property owners to spread the cost of upgrades over a longer period of time, making them more affordable.
- C-PACE financing is transferable to new owners, which can make your property more attractive to potential buyers.
- C-PACE financing can help your property qualify for additional incentives, such as tax credits and rebates.
If you're interested in using C-PACE financing to boost the capital of your development, it's important to do your research and work with an experienced C-PACE provider. By taking the time to explore this financing option, you can find a solution that meets the unique needs of your property and helps you reach your financial goals.