Commercial Property Assessed Clean Energy (PACE)
is a financing option available to commercial property owners for energy efficient, water-saving, and renewable energy upgrade projects. This financing option allows 100% of the project costs to be repaid through an assessment placed on property tax bills. Projects can be amortized over a longer period of time, keeping them "cash-flow positive" from day one.
Who are the ideal candidates and properties?
Older buildings in need of upgrades, properties with no mortgage or low loan-to-value, and properties needing to comply with legal requirements can be excellent candidates for commercial PACE financing. Eligible properties may include commercial offices, apartment buildings, schools, nonprofits, industrial facilities, hotels, and retail/restaurants.
What are the benefits?
- PACE helps property owners reduce operating costs while increasing property value.
- Qualification for PACE financing doesn't require a personal guarantee.
- You can combine tax incentives and utility rebates that can significantly decrease the cost of projects.
- If the property is sold, the financing assessment stays with the property and transfers to the new property owner since the improvements remain with the property.
Commercial PACE in Los Angeles County:
There are multiple commercial PACE administrators operating in Los Angeles County. Administrators differ on financing terms, underwriting criteria, timelines for payout, and levels of customer service. Whichever administrator you select, your projects will receive the benefits of commercial PACE.
Los Angeles County Commercial PACE is an open-market program, meaning you can work with an investor of your choice.
See a list of investors we are working with here.
We also recommend exploring the various commercial PACE administrators to find the best financing product for your project: