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Pace Funds Homewood Suites, Hilton Garden Inn Development in Ohio

Pace Equity funded the largest new Property Assessed Clean Energy (PACE) construction project in Ohio, a highly-sustainable new Homewood Suites and Hilton Garden Inn to be constructed in Easton. The 175,000-square-foot, 240-key hotel takes advantage of the latest innovations in sustainable design and building technology, making a significant difference in both its environmental impact and cost of operation.

The environmentally-responsible aim of the new build was a natural fit to utilize Pace Equity funding, which provides low-cost private capital to building projects including projects with sustainable energy goals.

Pace Equity funded 22% of the capital stack, roughly $10.4 million out of a $47.5 million dollar capitalization. The construction lender provided another $26.25 million, and developer Middletown Hotel Management Company, Inc. contributed the remainder. By using Pace Equity funding, the project’s investor return rate (IRR) improved by 35%, and the multiple of invested capital increased 47%.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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