CastleGreen Finance has provided C-PACE sustainable energy new construction and renovation financing for major commercial properties across the country. The underlying characterizations delineate recent transactions.
And Affiliate X- Caliber have provided have provided:
$11,750,000 Total Construction Financing
Comprised of a $4,005,639 C-PACE financing and a $7,744,361 mortgage loan to Brookwood Taylor Estates Acquisition, LLC (“Borrower”) for the development of Brookwood Estates – Taylor, for the construction of 15 single story buildings, totaling 60 units, age-restricted (55+) multifamily community located in Taylor, Michigan.
Brookwood Taylor Estates
Taylor, MI
And Affiliate X- Caliber have provided have provided:
$122,200,000 Total Financing
Comprised of $57,750,000 in C-PACE financing and a $48,500,000 construction loan and a $15,950,000 historic tax credit (“HTC”) bridge loan to Breakers Fairmont property for redevelopment and landmark renovation. This includes energy efficiency upgrades and seismic mitigation, including LED interior/ exterior lighting, efficient HVAC systems, and upgrading windows).
Breakers Hotel - Fairmont
Long Beach, CA
Has provided:
$9,475,000 C-PACE Construction Loan Financing
Comprised of C-PACE financing to The Monsaraz Tapestry Collection by Hilton, a recently constructed 92-room, full-service hotel that operates under the Tapestry brand of Hilton (the “Property”). The Property features a restaurant, lounge, terrace bar and meeting space. Loan proceeds will be utilized to payoff existing debt and all related C-PACE financing costs.
Monsaraz Tapestry Collection by Hilton
San Diego, CA
Has provided:
$4,380,000 C-PACE Energy Efficiency Improvement Financing
To Dutchess Partners, LLC, for The Promenade at Fishkill, a proposed 150-unit (224-bed) senior housing facility located in Fishkill, NY. The proceeds of the financing will be utilized for energy efficient improvements, capitalized interest and all related fees and costs.
Promenade at Fishkill
Fishkill, NY
And Affiliate X- Caliber have provided:
$28,400,000 Total Financing
Comprised of $24,416,000 Property Loan and a $3,984,000 C-PACE Energy Improvement Construction Financing for the installation of a 1,029 kW photovoltaic array and 500 kW battery energy storage system and resiliency improvements at an almond processing and storage facility located at 3211 Aviation Dr, Madera, CA
California Custom Processing
Madera, CA
Has provided:
$2,380,100 C-PACE Improvement Construction Financing
The Property is secured by a property assessment on a 221,001 SF hydroponic greenhouse on 40 acres of land consisting of the original 50,500 SF structure and a 170,501 SF expansion at 4500 & 4501 E Basford Road, Frederick, Maryland. Financing will be used for energy efficient equipment measures including boilers, chillers and cooling towers.
District Farm
Frederick, MD
Has provided:
$2,325,000 C-PACE Energy Efficiency Improvement Financing
The Property is a two-story building located on a 0.30-acre site in Litchfield, CT facing the town green and will be redeveloped into a two-story, 20-room, full-service boutique hotel with an upscale restaurant and a rooftop bar and lounge. Financing will be used for energy efficient improvements.
Litchfield Courthouse Boutique Hotel
Litchfield, CT
And affiliate X-Caliber have provided:
$32,210,000 Total Financing
Comprised of $25,000,000 Property Financing and $7,210,000 C-PACE Renovation Financing for converting former Milford Memorial Hospital to a nursing/rehabilitation center with energy upgrades, e.g. LED lighting, efficient HVAC systems, automated control systems, low-flow plumbing and new windows.
Milford Village Wellness
Milford, DE
Has provided:
$2,100,000 C-PACE Renovation Financing
For the conversion of 29 of the 42 townhouses into a total of 89 rental units. C-PACE Renovations include energy efficient LED interior lighting, efficient heating and cooling systems (with water heaters). Energy efficiencies will reduce approximately 46,000 pounds of CO2 annually.
Temple Street Apartments
Hartford, CT
And affiliate X-Caliber have provided:
$52,000,000 Total Financing
Comprised of $35,000,000 Property Financing and $17,000,000 C-PACE New Construction Financing for the installation of high efficiency HVAC systems, wall, roof and window upgrades, LED interior and exterior lighting, seismic reinforcements, and low-flow plumbing. The Property will consist of a 254,000 sq. ft. industrial refrigerated storage as the first phase of a two-phase development on the site.
Origo Cold Storage (case study)
Madera, CA
Has provided:
$1,500,000 in C-PACE Renovation Financing
Dedicated specifically to seismic retrofitting upgrades to strengthen the structural integrity of the property. The interest rate for the financing will be a rate that will be determined seven (7) days prior to the scheduled financing closing date, fixed at the greater of the 20-year treasury yield.
Hyatt House Hotel
Davis, CA
Has provided:
$13,700,00 in C-PACE Renovation Financing
For converting the Sisters of St. Joseph convent into 292 apartments. Removal of asbestos containing materials, and upgrading ceilings, floors, heating ducts, pipe-fitting insulation, and boiler housing. Installing energy efficient LED interior lighting, efficient HVAC, and heating systems.
One Park Road (case study)
West Hartford, CT
And affiliate X-Caliber have provided:
$94,000,000 Total Financing
Comprised of $48,500,000 Property Financing and $45,500,000 C-PACE Renovation Financing for energy efficiency upgrades and seismic mitigation, including LED interior/ exterior lighting, efficient HVAC systems, roof/walls/windows, low-flow faucet and DHW heater, efficient pool pump/heater, and elevator upgrades.
Breakers Hotel
Long Beach, CA
And affiliate X-Caliber have provided:
$36,000,000 Total Financing
Comprised $25,000,000 Property Financing and $11,000,000 C-PACE New Construction Financing for energy efficiency upgrades, including LED interior/exterior lighting, high efficiency HVAC systems, Building Envelope (roof/walls/windows), low-flow plumbing and DHW heater.
Inn at Bellefield (case study)
Hyde Park, NY
Has provided:
$2,140,000 C-PACE Improvement Construction Financing
Comprised of retroactive financing for the energy and water efficiency installations during the construction of the Property. Financing will be used for roof, wall and window upgrades, interior and exterior lighting, low faucet fixtures, heating and HVAC upgrades.
Laurels of Lake Orion (case study)
Lake Orion, MI
And affiliate X-Caliber have provided:
$54,970,000 Total Financing
Comprised of $34,360,000 Property Financing and $20,610,000 C-PACE Renovation Financing for recapitalizing/renovation of the landmark building for energy efficiencies and seismic mitigation, including efficient LED interior/exterior lighting, seismic strengthening, new HVAC systems, low-flow faucets, DHW heating, and elevator upgrades
Ocean Center Luxury Apartments (case study)
Long Beach, CA