PRESS ROOMNEWS RELEASE
Inland Green Capital LLC Closes C-PACE Financing for Highpoint Office Towers Clean Energy Improvements in Mokena, IllinoisJanuary 17, 2022
Oak Brook, Ill. – Inland Green Capital LLC (“Inland Green Capital”), an environmental finance and investment company, announced the closing and funding of a commercial Property Assessed Clean Energy (“C-PACE”) transaction in Mokena, Illinois. Inland Green Capital was selected to finance $250,000 in energy efficient improvements for the 20-year-old Highpoint One and Highpoint Two office towers. The transaction marked the first C-PACE financing and closing in Will County.
The funding, which closed in December 2021, will provide 100 percent financing for rooftop solar PV installations and roof replacements. The C-PACE project is expected to provide the two buildings with approximately $265,000 in savings over the 25-year financing term, while creating an average of 66 percent of their own overall energy and saving over 1,000 metric tons of CO2e from entering the atmosphere.
“Inland Green Capital helped us through process of getting all the necessary approvals, quickly and on time,” said John Olivieri, managing partner of Laraway Center LLC. “They are a pleasure to work with on financing solar projects.”
Inland Green Capital specializes in C-PACE financings for PACE project initiatives throughout the country.
“Inland Green Capital is particularly excited about closing this renewable energy deal as the very first in Will County, creating the pathway for more clean energy projects to be developed over the next year and into the future!,” exclaims Anna Maria Kowalik, director of business development for Inland Green Capital. “Will County, with its strong industrial and manufacturing base, as well as some aging building stock, is prime for a ‘greening’ of facilities spanning the gamut. We look forward to continuing to contribute to this effort.”
PACE is an innovative financing tool that provides long-term, fixed-rate funding to private building owners for energy efficiency, renewable energy, water conservation, electric vehicle charging and resiliency projects to be installed in both existing and new commercial properties. To date, the PACE program has provided financing for over 2,500 commercial projects, totaling $2 billion in funds, and has created nearly 22,400 jobs nationwide*.
About Inland Green Capital LLC
Inland Green Capital LLC is an environmental finance and investment company that provides capital for energy efficiency solutions for property owners using PACE and other funding tools throughout the country. Established in 2012, Inland Green Capital is a member of The Inland Real Estate Group of Companies, Inc., one of the nation’s largest commercial real estate and finance groups. For more information about Inland Green Capital, please refer to the company website at: www.inlandgreencapital.com.
*Source: PACE Nation