Recapitalize your recently completed projects
Refinance your project with a low-cost, fixed-rate, non-recourse PACE loan
PROJECT TYPES
Refinancing with PACE Equity is available for projects that are mid-construction or projects that were completed up to 3 years ago, although the guidelines are unique for each state. PACE Equity can retroactively fund a renovation or new construction project using refinancing. This strategy is especially useful when you are looking for:
- Recapture invested equity to deploy for other projects
- Fund cost-overruns, debt payoffs/paydowns, lease up/debt service reserves, and equity refinancing
- Avoid a capital call or extend your bank maturity
How refinancing with PACE Equity works
This option leverages your investment in mid-construction work or recently completed development projects or building renovations. You can take advantage of all costs for improvements that impact utility spend (HVAC, lighting, windows, etc.), renewable energy measures, and/or resiliency retrofits (seismic, wind). Each state has unique guidelines that outline the availability of this refinancing option. Ask the PACE Equity Managing Director in your state for details on refinancing.
Our engineers analyze your building improvements and calculate the maximum funding and amortization term possible starting from when the improvements were installed. Your funding amount is based on this retroactive utility (energy/water) savings (about half of the states require it for SIR compliance). With refinancing, you can leverage the building improvements to acquire funding at lower rates than mezzanine or equity.
