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.