CastleGreen Financing/ X-Caliber Capital, through the use of C-PACE (Commercial Property Assessed Clean Energy) financing program requirements, provide private capital for building construction and renovation projects. These projects lower development costs through the deployment of lower cost capital. This will reduce future operating costs by virtue of sustainable energy efficient solutions and controls. The principals about C-PACE Financing requirements contribute towards the overall concepts of Green Energy in its consideration of environmental impacts, including economics and public health.
Working Together for Sustainable Energy and Efficient Use of Resources

Collaboration of Asset Development & Sustainable Energy Solutions
C-PACE Financing is a rare financial instrument where culture and economics join hand in hand. It provides a connection between the strong cultural momentum behind green environmental initiatives and the economic motivation to help property owners adhere to more stringent building code requirements, as well as to meet the needs of its tenants and users. Property Owners enjoy lower cost of capital, building efficiency and resilience while its users benefit from a healthier environment.

Building Efficiency, Environmental Preservation & Physical Wellbeing
C-PACE Financing programs promote Environmental, Social and Governance (“ESG”) initiatives by helping owners save electricity and reduce water consumption, decrease carbon emissions and enhance economic development while also creating jobs. The Center for Clean Air Policy states that buildings account for roughly one-third of global greenhouse gas emissions and consume 40% of the world’s energy making it a key target for improvement towards environmental preservation. While C-PACE Financing is deployed one property at a time, it provides a significant financial solution for continued enhancement of greener building code requirements across the country.
Frequently Asked Questions
Does the C-PACE assessment impact the value of the property?
No. Although C-PACE assessments become a real estate tax obligation of the property and functions as a property expense, they may also be prepaid, thus creating a win-win situation for the property owner. The prepayment flexibility in C-PACE transactions allow the Borrower to eliminate the property obligation if they choose upon sale or refinance like a mortgage or mezzanine debt and therefore do not have a negative impact on the market value of the property. In fact, the energy efficient improvements financed by C-PACE serve to reduce utility costs permanently and increase property value.
Can I combine C-PACE with other energy related incentive programs and other rebates, grants or tax credits?
Yes, in fact C-PACE is complementary with other incentive programs and tax relief programs. The C-PACE provider does not participate in the benefits of any utility or property-based incentive program, leaving the benefits of such to the property owner. CastleGreen is supportive of the use of utility incentives and tax benefit programs to enhance energy efficiency, renewables and water conservation measures.
I already finished my improvements. Can I still use C-PACE financing?
In the vast majority of the United States, C-PACE may be used retroactively for a period of time after completion of a C-PACE eligible renovation or new construction completion. Retroactive periods typically range from one (1) year to three (3) years after completion or certificate of occupancy. Please inquire about the specifics of your property’s location.
Can my C-PACE be transferred to a new owner on sale?
Yes. C-PACE contains no due on sale provisions and may remain in place through a sale and/or refinance of the property. The C-PACE is freely transferable to the new owner without approval or transfer fees.
Do leaseholds qualify for C-PACE?
Yes. The C-PACE is secured by an assessment against the tax identification of the fee ownership parcel(s). A C-PACE may qualify for a leasehold improvement with the consent / participation of the fee owner.
Can I include soft costs and financing costs in my C-PACE financing?
Yes. Certain soft costs i.e., architectural costs, permits, development fees, etc. may qualify for C-PACE financing in conjunction with the financed hard costs. In addition, all fees, closing costs and payment reserves associated with the C-PACE transaction may be included in the financing.
Will my mortgage lender consent to the C-PACE?
Over 200 national, regional and local mortgage lenders have consented to and participated in C-PACE transactions. This list and the acceptance of C-PACE as a beneficial part of real estate capital stacks continue to grow. They include prominent lenders like JP Morgan, CIBC, Housing and Urban Development (HUD), US Department of Agriculture (USDA) and other banks, insurance companies, credit unions and private lenders.
How does this all get started?
I’m glad you asked. Please send us an email below and we will show you the key to the Castle.
Improvements Eligible for C-PACE Financing

Solar Energy System

Insulation

Elevators

Commercial Windows

Seismic Strengthening

HVAC System

Roofing

High Efficiency Lighting

Low Flow Water Features
