CounterpointeSRE Program Announces Financing for Green Roofs
Counterpointe Sustainable Real Estate, a leader in commercial real estate PACE financing, announced the launch of new nationwide financing program for the installation, service, and maintenance of Green Roofs and Living Roofs. This innovative new financing program will help property owners comply San Francisco’s new Living Roof Ordinance and is backed by property-tax assessments funding - known as Property Assessed Clean Energy (PACE) Financing - through which the local county or municipality offers a voluntary tax assessment increase in exchange for financing 100% of the costs to fund permanent green energy-saving, water-saving and seismic strengthening improvements.
The financing provided by Counterpointe Sustainable Real Estate provides financing for 100% of the costs of green roof installation, including all related soft costs such as egress code compliance measures, prepaid service contracts, or warranties for maintenance or the green roofs. Through the CounterpointeSRE’s PACE program, the assessment that funds the improvements is repaid with long term, fixed rates through an additional line item on the property tax statement. This will allow hotels, offices, hospitals and other commercial properties to finance green roofs while preserving capital and potentially qualifying for off balance sheet treatment. Assessments are tied to the property, so they may be passed through to tenants, are non-recourse to owners and are transferrable upon sale of the property.
Green roofs provide enormous benefits to community, property owners and tenants. Whole building energy savings vary by climate, building size and green roof properties, but a City of San Francisco commissioned study estimates utility savings in cooling costs at 18%. Read more about this cost benefit study at http://default.sfplanning.org/Citywide/livingroof/SFLivingRoofCost-BenefitStudyReport_060816.pdf
San Francisco has joined other North American cities promoting living roofs such as Toronto, Chicago, and Portland. “CounterpointeSRE is pleased to offer financing that helps reduce heat island effects, manage stormwater, and increase open space to promote biophilia in commercial spaces,” said Eric Alini, managing partner at CounterpointeSRE. “While property owners may seek financing to increase ROI, LEED certification, property aesthetics and value, and for tenant enhancements, this program seeks to work in conjunction with city planners to make our cities more environmentally friendly.”
Counterpointe Sustainable Real Estate (CounterpointeSRE) is a nationwide PACE financing provider, specializing in commercial clean energy and resiliency improvements. In 2014, the City of San Francisco selected its PACE program to become its official financing partner. The CounterpointeSRE Program™ has un-paralleled expertise in PACE financing and finances a variety of renewable energy, water conservation, energy efficiency and resiliency projects besides green roofs such as lighting and building automation, seismic retrofits and wind mitigation, energy efficiency windows and upgrading heating and air conditioning systems. Counterpointe’s new program for green roof installation permits inclusion of other eligible improvements in the financing.
For more information, please visit www.CounterpointeSRE.com
About Counterpointe Sustainable Real Estate, LLC
Counterpointe Sustainable Real Estate is a leading commercial real estate PACE financing provider financing commercial real estate improvements nationwide from $100,000 to $50,000,000. Counterpointe Energy Solutions LLC (“CES”) together with its subsidiaries is engaged in implementing, funding, managing and administering PACE programs under the AllianceNRG ProgramTM and Counterpointe Sustainable Real Estate brands. CES is a program administrator in California and Florida while CounterpointeServices provides bond servicing for PACE municipal bonds.