First C-PACE Deal Closes in Washington, D.C.

The D.C. Baptist Convention will use the 30-year loan to fund energy-saving upgrades, saving the non-profit more than $800,000 during the life of the project.

Petros PACE Finance closed its first Commercial Property Assessed Clean Energy (C-PACE) deal in Washington, D.C. The Austin-based firm is a specialty finance firm that focuses its resources on the commercial PACE market nationwide.

The beneficiary of the $531,350 loan is the District of Columbia Baptist Convention, which will use the funds for cost saving energy retrofits at the 58-year-old property it owns at 4025 9th St. SE.  The D.C. Baptist Convention will save more than $800,000 during the life of the project by installing new HVAC units, LED lighting and windows, along with upgraded electrical infrastructure and building envelope improvements. In addition, the investment will help create a more comfortable learning environment for the students at The Early Childhood Academy, which leases most of the 15,000-square-foot building…

First C-PACE Deal Closes in Washington, D.C.

Categories : Finance

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