• Project Size: $100,000 - $50 million. Please contact the Program for projects greater than $50 million
  • Terms: 5 to 30 years, fixed rate, fully amortizing, with no guarantees or covenants required
  • Eligible Property Types: Office, Retail, Multifamily, Light Industrial/Warehouse, Hospitality, Mixed-Use, and Self-Storage. Please call the Program to discuss other property types.
  • Eligible Improvements: Energy Efficiency, Renewable Energy, Water Conservation, Seismic Retrofits, Risk Mitigation, and Green Roofs. Please see our¬†list of PACE eligible improvements¬†
  • Occupancy Type: Stabilized, Transitional, or Ground Up Construction. Previously completed construction may be eligible.
  • Eligible States: Please see our list of active PACE jurisdiction
  • Lien-to-Value: Up to 35% of the as-is or stabilized property value.
  • DSCR Requirement: 1.15x on underwritten stabilized net cash flow for most properties.
  • Prepayment: Yield Maintenance. Please contact the Program for alternatives.
  • Recourse: Non-recourse with no technical default provisions.
  • Interest Rates: Varies by jurisdiction, term, project size, and property type. Please contact the Program for current rates.