C-PACE Eligibility
C-PACE is the commercial arm of the PACE program (Commercial Property Assessed Clean Energy).
Commercial property can be loosely defined as real estate that's used for business activities. This refers to buildings that are occupied by businesses, but it can also refer to land that is used to generate revenue, also included are large residential rental properties....
Through C-PACE, commercial property owners and developers can obtain low-cost, long-term financing for up to 30% of the property value. It is cheap capital financing with huge tax benefits and no personal guarantees needed.
Eligible Properties
~Office
~Multifamily
~Mixed use
~Warehouse
~Industrial
~Schools (private)
~Healthcare
~Retail
~Commercial properties with restrictions (historical properties)
~There are additional types of buildings that are eligible; such as, multifamily properties with five or more units, or a commercial unit
THERE ARE MULTIPLE BENEFITS TO C-PACE….
*Improves cash flow into the property
*Improves overall value of property
*Deferred payments; pay closer to occupancy.
*Low-cost alternative to Mezz debt
*Covers 100% of financing(permits, inspections, etc)
*Transferable with sale of property
*Long-term, fixed rate financing; up to 30 yr terms
*Off balance sheet financing
*No acceleration clause
*No personal guarantees needed
*7 year look back period in most states