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Texas  + Austin  + Finance  | 

Use of C-PACE as a Refi Tool Raises Cash and Lowers Expenses

In response to pandemic-related challenges and uncertainty, more commercial property owners are using Commercial Property Assessed Clean Energy (C-PACE) as a refinancing tool to raise cash and lower expenses. Demand for C-PACE refinancing continues to surge in 2021, fueled by ongoing business disruptions and capital restrictions among traditional lenders, along with broader availability and market awareness.

In fact, one C-PACE firm, Petros PACE Finance, nearly tripled its 2019 total transaction volume in 2020, with refinancing transactions across eight states in the last 12 months. This included more than $100 million in retroactive C-PACE transactions. Based on a pipeline in excess of $2 billion in C-PACE, Petros expects to close multiples of its 2020 volume this year.

“The economic crunch under the pandemic has led a lot of commercial property owners to seek alternative financing options, and we are fortunate to have helped so many of them – with refi transactions growing significantly as a percentage of total transaction volume,” said Mansoor Ghori, Petros CEO. “While C-PACE has been instrumental for owners weathering this storm, we’re seeing more interest than ever in C-PACE as a preferred refinance tool because it enhances the long-term financial performance and efficiency/sustainability of their properties.”


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About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.