New York City has enacted legislation requiring builds to substantially clean up their acts. Generally speaking, however, we have seen little movement to actually move in this direction by building owners. Part of this is due to the enormous costs involved.
The loan program designed to offer competitive financing for these improvements - C-PACE - just saw its first deal here.
therealdeal.com
The loan program designed to offer competitive financing for these improvements - C-PACE - just saw its first deal here.
Wall Street scores first C-PACE deal in New York City’s history
Petros PACE provided the financing, part of a larger $500 million acquisition and construction financing package
Wall Street Scores First C-PACE Deal in New York City’s History
Wafra Capital Partners and Nightingale Properties scored $89 million in C-PACE financing for its 1.2 million square-foot, 25-story office building at 111 Wall Street.
therealdeal.com