Capital Providers

MOESP is an open market program that welcomes multiple funding originators. Our lending partners allow us to offer on-demand cash for your PACE project, reducing the approval process to mere days.

Mortgage Lenders

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To become a PACE lender or

To provide consent

Lenders

Learn about the role of energy efficiency in lowering the default rate

Community Banks

Learn about the role of community banks and PACE

Benefits

PACE assessments are small in comparison to the property value and mortgage amount and have a minimal effect on overall economics. PACE assessments generally do not exceed 20% of the total property value; therefore, this means that the PACE exposure in any given year is typically no more than 1% of the property value when PACE financing is extended over a 20-year term.
PACE assessments do NOT accelerate in the event of a mortgage loan default or tax foreclosure. ONLY the PACE assessment amount that is in arrears becomes due. The remaining PACE assessment balance continues with the property until the term end date.
PACE assessments can stay with property upon sale and transfers to new owner.
PACE assessments can be prepaid before the term end date (penalties may apply).
PACE requires no funds from the existing mortgage holder.
PACE improvements reduce energy expenses and increase cash flow of the property owner.
PACE improvements increase the value of the property.
PACE capital typically comes from private sources. This enables property owners to reserve other lines of credit for working capital or non-energy related improvements.
PACE capital does not rely on government funds.
PACE financing repayment process is secure and proven due to using the same special tax assessment structure that has been in place for over 100 years.
For Commercial Real Estate (CRE) property owners with tenants, PACE improvements increase Net Operating Income (NOI).

MOESP requires mortgage holders to consent to the assessment.

"Why do senior lenders consent to C-PACE financing?

C-PACE Assessments Do Not Accelerate – only current & past due C-PACE payments can be enforced through a tax lien and are senior to a mortgage lender’s claim; the full principal balance can never be called due, unlike a traditional mortgage.

C-PACE Does Not Restrict a Senior Lender’s Foreclosure Rights – the senior lender can foreclose on the property in the same manner as if it were the sole financing on the property; there is no “workout” with mezzanine debt or equity providers.
Escrow the C-PACE Assessments – senior lender may require borrower to escrow annual C-PACE payments on a monthly basis, similar to property tax and insurance escrows, to mitigate risk of non-payment.
C-PACE Capitalized Interest – interest can be capitalized for up to 24 months (longer for select projects) to push the first payment beyond project completion or stabilization.
Ample C-PACE Cure Period – mortgage lender receives notice & cure rights with ample time to bring the C-PACE current given that a tax lien foreclosure/sale typically takes 12-24+ months.
C-PACE OpEx Savings May Increase Property Value – many states require that a third-party engineer verify that the monetary savings from C-PACE funded improvements exceed the cost of the financing, supporting a higher property NOI and valuation.
C-PACE Wins Deals & Build Relationships – the combination of a traditional mortgage and C-PACE typically offers the lowest blended cost of capital to borrowers, allowing senior lenders to fund more projects and offer a differentiated product to the market without having to build out C-PACE expertise or compete on pricing alone."

Access more at PACENation

Click here to access the Lender Consent Form

PACE Equity

Their preferred projects are commercial projects $250,000 and above. They fund renewable energy and energy efficiency and projects in Missouri.

Twain Financial Partners

is a St. Louis-based capital provider dedicated to providing PACE financing for energy efficiency, renewable energy and water conservation projects throughout Missouri. Twain’s vast network of lenders and energy contractors in Missouri and elsewhere allows for an efficient, streamlined process for obtaining on-demand capital for commercial, agricultural and industrial PACE projects.

CleanFund Commercial PACE Capital

is a direct lender focused exclusively on the commercial property sector. With significant expertise in commercial real estate, finance and energy engineering, CleanFund is uniquely capable of delivering capital efficiently across all jurisdictions in the U.S. with active PACE programs. CleanFund’s flexible financing program enables property owners to install modern energy and water technology with no up-front cost, increasing property cash flows and value.

Petros PACE Finance

is a national leader in PACE marketplace dedicated solely to providing long-term C-PACE financing to U.S. commercial property owners seeking to lower energy costs, reduce their carbon footprint and increase property values. Petros is backed by more than $2 billion committed capital and funds projects starting at $500,000

LordCap Green

is a capital partner of Show Me PACE, dedicated to C-PACE financing for energy efficiency and renewable energy. LordCap Green personnel were early pioneers in C-PACE with a platform size of $300 Million and is established to serve C-PACE nationally without size or type restrictions.

CounterpointeSRE

a national leader in low-cost, long term PACE financing, has the expertise, resources and financial strength to help commercial property owners go green. From retrofits and upgrades, to ground up construction – from PACE to efficiency and solar financing we have the acumen and financial wherewithal to get your project done, increase your bottom line and help create a more sustainable, resilient world.

Dividend Finance

offers commercial PACE financing on projects $50,000 and up. The company has completed over 50 commercial PACE financings in California since 2011 through its Figtree Financing division. Dividend provides capital for clean energy projects in 24 states.

Imperial Ridge Real Estate Capital

is a leading provider of Commercial Property Assessed Clean Energy (“C-PACE”) financing for commercial real estate. With $500M in capital to deploy, our professionals take an innovative, scalable approach to providing clients and partners with a reliable source of accretive capital. Through the strong economics of C-PACE, we strive to optimize commercial real estate assets while positively impacting profit, people, and the planet.

Stonehill Strategic Capital

offers commercial PACE financing on projects $1 million and up. Founded in 2013, Stonehill provides finance solutions for new construction, renovations, and recapitalizations. Since closing their first fund in 2014, Stonehill has completed more than 100 transactions totaling over $1.5 billion.

CCG PACE Funding, LLC

provides long-term, flexible financing to owners of large-scale commercial properties located throughout the United States that intend to utilize C-PACE financing for energy efficiency, water conservation, renewable energy, seismic and wind improvements as part of their capital stacks. The firm’s C-PACE financings are individually customized to meet the needs of each stakeholder. CCG PACE Funding is affiliated with CityScape Capital Group, LLC, an entity that has over 25 years of experience funding more than $1.35 Billion of debt and equity into highly structured transactions located throughout the country involving historic, new markets, energy and low-income housing tax credits. For additional information, please visit www.ccgpace.com.

Bayview PACE

offers fixed-rate, non-recourse financing to help owners fund energy efficiency and renewable energy upgrades for both existing properties and new construction. With the head of our team based in St. Louis, we’re on a mission to make C-PACE solutions attainable and advantageous for property owners in the state of Missouri.

Nuveen Green Capital

is a national leader in sustainable commercial real estate financing solutions and an affiliate of Nuveen, the $1.2T asset manager and wholly owned subsidiary of TIAA. The company, which was established by the C-PACE industry’s founders and standard-setters, has grown to offer a market-leading suite of accretive financing products for commercial real estate owners who seek to improve the energy, water and resiliency performance of their property. Nuveen Green Capital is a private capital provider dedicated to making sustainability a smart financial decision for the commercial real estate market and community. For more information, visit www.nuveen.com/greencapital.

White Oak

is a national C-PACE capital provider with more than $6 billion of assets under management and is committed to working with owners of all commercial property types. We combine flexible capital with transparency and quick turnaround times to deliver reliable execution of PACE transactions.

Inland Green Capital (IGC)

is an environmental finance and investment company that provides capital for Property Assessed Clean Energy (PACE) financings nationwide. IGC works with commercial property owners located in PACE programs across the country to finance clean energy improvements that enhance sustainability of their properties, lower both operating expenses and their cost of capital, and ultimately create value.

GreenRock

GreenRock Capital is a team of veterans from healthcare, commercial real estate, C-PACE and capital markets. GreenRock provides healthcare and commercial real estate owners with a new form of low-cost capital for development, value-add and recapitalization projects. We are committed to providing our clients with tailored solutions that exceed their expectations. https://www.greenrockhc.com

MOESP is an open market, and consequently, a wide range of parties can make PACE loans.

Eligible third-party lenders may include:

Any registered investment company registered business development company, or a Small Business Administration small business investment company;
Any publicly traded entity or any private entity that has a minimum net worth of $5 million; that has at least three years’ experience in business or industrial lending or commercial real estate lending (including multifamily lending), or has a lending officer that has at least three years’ experience in business or industrial lending or commercial real estate lending; and can provide independent certification as to availability of funds.
Any insurance company authorized to conduct business in one or more states;

All lenders must have the ability to carry out, either directly or through a servicer, the bookkeeping and customer service work necessary to manage the assessment accounts.

All new lenders are required to submit an application of interest to MOESP and must be approved by the MOESP Board of Directors.

Lender Application

Please contact PACE@monergy.org for questions or assistance completing the Lender Application.

Capital Providers

Benefits

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