Commercial Building Improvement or New Construction Financing
There’s a new financing tool that is taking the commercial real estate Industry by storm: PACE financing. It has grown by 600% in the last 8 years. Silverton’s commercial property owners soon will be able to utilize PACE to finance energy efficiency building improvements. Energy savings can often pay for the cost of the improvements. There’s no down payment required and no personal guarantees. PACE includes a fixed rate and payment over the course of a 15-25 year term. PACE has off balance sheet treatment and often can be passed on to your tenants. PACE is a simple and effective way to finance new construction and upgrades to buildings, it can pay for new heating and cooling systems, lighting improvements, solar panels, elevators, insulation, and more. Projects range in size from $40,000 to millions. For more information contact Tom Carroll at [email protected] or visit OHPACE.org.