A Closer Look at Energy-Focused Financing for Multifamily

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StoneCreek Real Estate Partners had just completed its new 92-bed, 74,000-square-foot assisted living and memory care facility in Littleton, Colo., and was ready for lease-up when the COVID-19 crisis hit. Like many multifamily, senior and student housing owners and developers during the pandemic, the company turned to Commercial Property Assessed Clean Energy funding (C-PACE) for $3.8 million in retroactive financing to cover energy-efficient construction costs.

“You’re able to go into a recently constructed building and provide liquidity in a very difficult time like a COVID pandemic,” said Eric Alini, managing director of Connecticut-based Counterpointe Sustainable Real Estate (CounterpointeSRE), which provided the $3.8 million C-PACE loan.

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