PACE Loan Group

Samaritan Center, a business complex that leases at least 65% of its space to non-profit organizations, received $3.27M in #CPACE from PACE Loan Group. The PACE proceeds were used to cover 60% of the building’s renovation, which updated the main building and will reduce annual repair expenses and utility costs. “This loan was a godsend. The renovations almost make this a brand-new building and allow the Samaritan Center to begin operating as a ‘healthy village’ for the east side Detroit community,” said Henry Argasinski, RPA, project for SER Metro-Detroit. “Without the C-PACE loan, we would not have been able to reimagine this aging property.” Read more about this Detroit nonprofit center: https://hubs.li/Q02W9qxm0 #Michigan #CRE #renovation

When your company is selected as one of the fastest growing companies in the Twin Cities for the second year in a row, that’s something to celebrate! The PACE Loan Group Minneapolis team had a great time at last night’s award ceremony, where we were named the 6th fastest growing company by the Minneapolis/St. Paul Business Journal (MSPBJ)! PLG’s continued growth is all thanks to our amazing team members - let’s make 2025 our best year yet. #goPLG! Meet the faces of PLG: https://lnkd.in/d5WZM-5j Learn about the Fast 50 companies: https://lnkd.in/gF9crf5G #CPACE #CRE

While the #CRE market continues to exhibit signs of distress and deal flow remains low, momentum is starting to pick up, leading many to believe that we’ll see transaction volume start to ramp up in 2025. PACE Loan Group SVP of Originations, Robbie Pinkas, discussed alternative financing strategies, such as utilizing #CPACE financing, to support distressed assets and get money moving through the system again at yesterday’s Connect CRE Investment and Finance conference. Thank you to fellow panelists: o  Moderator Amanda Wolin with Cox, Castle & Nicholson LLP o  Mike Banwell with Marcus & Millichap o  Gary Bechtel with Red Oak Capital Holdings, LLC o  James Gosse with Mission Capital Advisors, LLC o  TR Hazelrigg IV with Avatar Financial Group o  Bradley Ross with Parkview Financial®️ Learn how C-PACE is being used in today’s interest environment: https://lnkd.in/gc-Hvuuq

We’re always happy to see our clients get the recognition they deserve! One of PACE Loan Group’s transactions, the Wild Rice Retreat in Bayfield, Wisconsin, was just selected as the #14 destination spa resort in the nation by Condé Nast. The resort, situated on the coast of Lake Superior, is a nature-centered wellness resort that’s been lauded for its outstanding amenities, accommodations, and services, such as daily immersion classes, yoga, and more. Read about some of PLG’s past transactions: https://lnkd.in/gWZUgGEg

“We believe that the amount of C-PACE volume will continue to increase as more deals overall come back to the market,” PACE Loan Group CEO Rafi Golberstein explained in a recent article with REBusiness Online. “C-PACE has really matured through the years — we’ve gone from a large percentage of mom-and-pop borrowers in 2017 to institutional investors in 2024.” Even with interest rate cuts, #CPACE continues to be an attractive source of capital due to its ability to blend down cost of capital and work as a participant when banks are constrained on lending. Read more: https://hubs.li/Q02TlgXv0

After closing three C-PACE loans in Michigan in the past month, PACE Loan Group leads Michigan #CPACE transaction volume at 21 loans on nearly $300M of development projects. PLG’s three most recent #Michigan loans: • $2.6M for Howell Health Hub: a two-story modern medical office building in Howell, Michigan • $1.5M for Romulus Self-Storage: a 475-unit #selfstorage project under construction in Romulus, Michigan • $3.27M for Samaritan Center: a three-building nonprofit center in Detroit, Michigan that was founded to help spur redevelopment in Eastern Detroit Learn more about these transactions: https://hubs.li/Q02TldmL0

We’re thrilled to announce that New Jersey’s #CPACE program is now officially online! The New Jersey Economic Development Authority (NJEDA) opened the draft program guidelines for public comment back in May, and after months of feedback, they approved the NJ Garden State C-PACE program guidelines yesterday. Applications are expected to be accepted by December of this year – reach out to PACE Loan Group originators to see if your project qualifies: https://hubs.li/Q02SYVSC0 Learn more about #NewJersey C-PACE: https://hubs.li/Q02SYWMz0 #CRE #finance

After last month’s interest rate cut, PACE Loan Group Originator Ina Montejo spoke with Connect CRE about #CPACE in the current market. “While education around its nuances remain imperative, C-PACE has gained recognition as an accretive solution for various challenges in the cap stack—including blending down the cost of capital and refinancing maturing debt,” Ina explained when asked about the creative financing tool’s momentum. Learn how C-PACE remains to be an effective cost of #capital reducer amidst rate cuts: https://hubs.li/Q02SrlcB0 #CRE

“That’s where people reach out about PACE financing – it’s a bit of a rate hedge that you don’t have to pay to purchase,” PACE Loan Group COO Bali Kumar said during yesterday's REjournals #SeniorHousing Summit in Golden Valley. During the capital markets panel, Bali and fellow speakers Kurt Apfelbacher from Colliers, Quintin Harris from Lument, and moderator Todd Willett from Ebenezer discussed tactics for dealing with the higher interest rate and equity environment. While the fed is cutting rates, the 10-year Treasury remains high, and fixed-rate, long-term financing tools like #CPACE are an accretive way to blend down cost of #capital and get projects moving. Read about how C-PACE is being deployed in today’s market: https://lnkd.in/ghyXtEDV

PACE Loan Group originators Loren H. Biller and Ina Montejo are gearing up to discuss creative financing for #multifamily projects at ALM's Globe St. Multifamily Fall in Los Angeles. Meet them at the conference from October 14-15th to talk about how #CPACE financing can blend down your cost of capital and kickstart your stalled projects. Connect with Ina and Loren: o ina@paceloangroup.com | (650) 796-5526 o loren@paceloangroup.com | (917) 346-1397 https://hubs.li/Q02RzPm80