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Inland Green Capital LLC Expands Footprint, Closes C-PACE Financing for Hospitality Redevelopment in Colorado
Nancy GofisInland Communications
Oak Brook, Ill – Inland Green Capital LLC (“Inland Green Capital”), an environmental finance and investment company, announced the closing and funding of their first commercial Property Assessed Clean Energy (“PACE”) transaction in the state of Colorado. Inland Green Capital was selected through the Colorado Commercial Property Assessed Clean Energy Program (“C-PACE”) to provide financing for $130,000 in energy efficient improvements for a hospitality redevelopment.
The PACE funding will cover HVAC infrastructure costs in the conversion of a former IHOP restaurant located at 1002 South College Avenue in Fort Collins, Colorado. Palmer Properties, a Colorado-based commercial real estate firm partnered with Air Comfort, Inc. to complete the project. Locally owned Big Red F Restaurant Group will open The Post Brewing Chicken & Beer at the location this spring.
Inland Green Capital specializes in mid-range C-PACE loans and retroactive financing. Although there has been an increase in PACE activity with hospitality properties, this is Inland Green Capital’s first deal in the Colorado market.
“While Inland has provided PACE financing nationwide for years, this is our first Colorado project. We are thrilled to be part of one of the most successful PACE programs in the country and look forward to many more Colorado-based projects in the future,” said Jason Stringer, vice president of business development of Inland Green Capital.
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 or new commercial properties. To date, the PACE program has provided financing for over 2,500 commercial projects, totaling $2 billion in funding 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