PACE Loan Group

PACE Loan Group SVP of Originations Matthew McCormack will share some insight on how borrowers and owners are navigating today’s #commercialrealestate market challenges next week at Western States CREF in Las Vegas. Matthew will discuss alternative financing strategies, such as #CPACE for #refinancing perm maturities, during the panel with Cody Charfauros from Slatt Capital, Josh Loshbaugh from KeyBank Real Estate, Eliav Dan from Greystone, Austin Ward from Ameritas, and Todd Pollack from Barclays. Meet with PLG at Western States: o Matthew McCormack | matthew@paceloangroup.com o Ina Montejo | ina@paceloangroup.com o Robbie Pinkas | robbie@paceloangroup.com https://hubs.li/Q02MCRbl0 #WSCREF24

“While banks have a right to call debt and accelerate it, C-PACE does not. We’re passive debt, we’re along for the ride,” PACE Loan Group Managing Director – Underwriting Angela Ledding explained at yesterday’s MNCREW Financing Mixology in Minneapolis. During the panel, which focused on creative additions to the #capital stack, Angela dived into lender consent and how borrowers become comfortable with #CPACE. She noted that in the case of a default, C-PACE lenders can only ask for the payments to be made current, and that most of the time, there is no personal guarantee tied to the loan. Thank you to fellow panelists Rebecca Kurtz from Ehlers, Mary Stoick from Sunrise Banks, Erin Welle from Minnesota Department of Employment and Economic Development, and moderator Kristen Anderson (Oliver) from Hempel Real Estate. Learn more about lender consent: https://lnkd.in/gcgYgkQt

After much debate and anticipation, #NYC’s #CPACE new construction guidelines are officially out! Here are a couple highlights from the new documents: • The project must be defined as a “Low Carbon Building” • The C-PACE loan can’t exceed 30% of the project’s total construction costs • No term limit • No SIR requirement for new construction or gut rehabilitation projects Learn more: https://hubs.li/Q02M3LwJ0 Meet with our NYC originators to see if your project is eligible: • Robbie Pinkas | robbie@paceloangroup.com • Loren H. Biller | loren@paceloangroup.com

It’s always such a joy to have (almost) the entire PLG team together in the same city. Last week, we all gathered together at PACE Loan Group’s headquarters, LaSalle Plaza in Minneapolis, to have our growing team meet face-to-face, explore our office’s new amenities, and hone our lawn game skills at The Walker Art Center. Here are some of the highlights, as seen in the pictures below: - The PLG team enjoying dinner at Cardamom. - Originators Ina Montejo and Robbie Pinkas won the first annual PLG pitch competition, where they pitched C-PACE and our company to Hempel Real Estate CEO Josh Krsnak and Christopher Kelly from Colliers. - Angela Ledding, Karen Raitanen, Ridwane Moustapha, and Samantha Kuhns kill it at Bocce Ball. - Ina Montejo, Parag Vipani, Felix Men, and Shray Patel have a pickleball showdown in LaSalle Plaza. Meet the Real People of PLG: https://lnkd.in/d5WZM-5j #goPLG #CPACE #Minneapolis

PACE Loan Group is going to Western States CREF! PLG originators Robbie Pinkas, Ina Montejo, and Matthew McCormack are ready to talk with owners and developers about #CPACE as a recapitalization and liquidity tool in today’s constrained capital environment. Meet with the PLG team: Robbie Pinkas | robbie@paceloangroup.com Ina Montejo | ina@paceloangroup.com Matthew McCormack | matthew@paceloangroup.com Read more about how C-PACE is used today: https://hubs.li/Q02L1ZLQ0 #WSCREF #WSCREF24

Special thanks to Nat Buono at JLL & Matthew McCormack at PACE Loan Group. Congratulations Archive Development on another amazing project.

$10.6M in C-PACE financing came together with a construction lender to finance the development of a 114-unit apartment complex in Philadelphia’s Fishtown neighborhood, which had been stalled until Archive Development obtained this creative financing package. PACE Loan Group financed the high-efficiency windows and green roofing on the building, which is located right next to the Market-Frankford Line in an up-and-coming Philadelphia neighborhood. "When a local bank backed out at the closing table, PLG worked with Nat Buono of JLL to bring a partner lender, Builders Capital, to complete the capital stack and deliver an attractive stretch senior execution at a nearly single-digit blended cost of capital,” PLG Originator Matthew McCormack said. Read more about this creative transaction: https://hubs.li/Q02Lb8N40

PACE Loan Group's Angela Ledding, Managing Director of Underwriting, will be speaking at MNCREW's Financing Mixology: A Recipe for Filling Gaps in #Capital Stacks on August 21 in Minneapolis. Angela's panel will focus on creative #CRE financing, covering various #financing tools such as TIF, brownfield/cleanup grants, tax credits, #CPACE, and specific housing tools (LIHTC, grants, etc.), where she will be speaking with fellow panelists Rebecca Kurtz from Ehlers, Mary Stoick from Sunrise Banks, Erin Welle from Minnesota Department of Employment and Economic Development, and moderator Kristen Anderson (Oliver) from Hempel Real Estate. Register for the event today: https://hubs.li/Q02L1rxP0

PACE Loan Group SVP of Originations Robbie Pinkas emphasized the lack of infrastructure projects in South Florida at a Bisnow event last month while speaking with Forman Capital’s Brett D. Forman, MG Developer’s Diego Torrealba, KeyBank’s Marty McGrogan, and Altis Cardinal, LLC’s Frank guerra about the implications of Florida’s growing population. “I'm not seeing any of those here,” Robbie said. “That is my single greatest concern about the ultimate resiliency of this market. We don't have the infrastructure necessary to accommodate this growth. That's fine for now, but at a certain point, it won't be.” Looking for a creative capital solution for your #Florida development? Connect with PLG to learn how C-PACE financing could benefit your #CRE project: https://lnkd.in/gyTeQCsk Read more about South Florida’s turbulent market: https://lnkd.in/gDKbhZPV

While lenders are pulling back amidst variable interest rates in Ohio’s #CRE market, #multifamily demand remains strong. PACE Loan Group Originator Loren H. Biller discussed flexible financing options for Columbus’ lending environment, such as #CPACE financing at last week’s REjournals' Ohio CRE Summit, where multifamily development remained at the forefront of conversation. Read about one of PLG's Ohio transactions: https://lnkd.in/gSBxtRcv Thank you to fellow panelists:  Don Brunner | BRG Apartments Jason Krug | Berkadia Matt Von Bargen | Rocky Fork Capital Tessa Greb, CAPS, CAM | Towne Properties