PACE Loan Group

New Hampshire statewide #CPACE is now online! Last week, the state’s program was officially approved and NH Business Finance Authority was selected as the program admin. Here’s a few quick facts about #NewHampshire’s program: o 3 year lookback period o 30 year max amortization term o New construction is PACE eligible Learn more about NH’s program: https://hubs.li/Q039wrlF0

“I’d like to use all of my waking hours focusing on driving some sort of impact, so we can all push in the direction we have to push, because we only have one Earth,” PLG COO Bali Kumar said in his feature as an Energy Innovator on Clean Energy Economy MN (CEEM)'s website. CEEM highlighted how Bali’s work within C-PACE has been a driving force in financing the clean energy transition in Minnesota. PACE financing has bolstered economic activity in Minnesota since the state’s program started in 2010, both creating jobs and investing in clean energy within #CRE. "I want to do something where I feel like I’m doing well and doing good - the doing good part matters,” Bali said. Read more of Bali’s story: https://hubs.li/Q039sHG90

We're adding a CRE Construction Draw Specialist to our team! This position can be based out of any of our offices (Minneapolis, Grand Rapids, MN, San Diego, Chicago, New York), or be remote. If you have a drive to learn and work hard, and enjoy a small, growing environment, this is the role for you!

Is your team as cool as ours (pun intended)? A Polar Plunge, pitch competition, and very competitive, albeit fake, game show were only a few of the things that the PLG team partook in this winter team event. Here’s a snapshot of the week: - Rafi Golberstein Felix Men, Ina Montejo, Kim Bebchuk, and Shray Patel decimated the rest of the team in a Madcap Factory competition that took us through the skyways and put our architectural skills to the test - Matthew McCormack won our biannual originator pitch competition, where they pitched to John Rent from Associated Bank. - The Red Hammers won an overwhelming yet questionable victory against The Ruffians in a game show - Karen Raitanen, Adam Osman, Robbie Pinkas, and Jerome Ellis, won this years PLG awards, which are derived from our core values - A few of us participated in a Polar Plunge at Lake Nokomis. - The whole team posed together for a very focused picture before leaving for our respective offices. Meet the Real People of PLG: https://lnkd.in/gHWuWGcf

There’s no better way to end the month than to gather everyone in the same office! From San Diego to New York, the entire PLG team has traveled to meet in the beautiful fourth floor of Hempel Real Estate’s LaSalle Plaza for our winter team meeting, where we’ll have team meetings, trainings, and (obviously) plenty of fun. Meet the growing PLG team: https://lnkd.in/d5WZM-5j #goPLG

PLG made the front page of the Minneapolis/St. Paul Business Journal (MSPBJ) last week after they interviewed our CEO Rafi Golberstein about the growing prevalence of #CPACE in #CRE! “PACE is becoming more rapidly a common mainstream financing tool, and we see it getting to the same point where you think of PACE like you think of Fannie or Freddie or CMBS,” Rafi said. PACE can help make a deal viable by filling financing gaps, especially when large institutional investors remain reluctant in today’s market uncertainty. In the article, Hempel Real Estate CEO Josh Krsnak said that he utilizes PACE on nearly every Hempel project ever since using it for the redevelopment of the Treasure Island Center in downtown St. Paul. “It becomes the secret sauce,” Josh said. Learn more about PACE and PLG in the article: https://hubs.li/Q038bQ7J0 #goPLG

Listen as Robbie Pinkas gives a snapshot of #CPACE benefits and use cases during this week’s episode of the CRE Daily podcast, No Cap! “PACE can be used as a construction loan takeout, and it can be used as a liquidity injection to come in for a project that’s over budget or having trouble stabilizing,” Robbie said when describing the versatile applications of this alternative #financing tool. He ended the podcast by describing two of our recent transactions, $35M for Gateway Studios & Production Services in St. Louis, Missouri and $24M for the 444 S. Flower office tower in Los Angeles. Listen to the full podcast: https://lnkd.in/gzW37m9c

Head of Production Peter Grabell and AVP of Originations Ina Montejo are going to LA tomorrow to talk about lending trends in #SeniorHousing. #CPACE has been coming in to fill senior lender gaps as banks remain conservative in the current rate environment, acting as a participant/A-note in some scenarios. Read about our recent #newconstruction Senior Living transaction: https://hubs.li/Q037ndxc0

North Carolina #CPACE is open for business! The state’s PACE program guidelines were approved earlier this month, which means that counties are now free to opt in to the statewide program. #NorthCarolina joins over 40 PACE-active states, with more legislation in the works across the US. As ESG requirements grow in prevalence and borrowers turn to creative financing in the current rate environment, more states are realizing the value of C-PACE. Learn about NC CPACE: https://hubs.ly/Q036cTVg0

Reset Hotel, an experiential hotel that received $11.2M in #CPACE from PLG, is set to open this Spring in Twentynine Palms, #California! This 65-room shipping container hotel is just a 5-minute drive from the North Entrance of Joshua Tree National Park. “It’s really designed for guests to have intimate, private experiences in nature, on their patios, on the edge of nature,” said Adam Wininger, one of the project’s co-founders. “That’s the idea Ben Uyeda had early on from him living here and hanging out with friends outside by the fireplace.” Learn more about Reset Hotel: https://hubs.li/Q0369LVC0 #CRE