Hannon Armstrong partners with PACE administrator CSRE on commercial real estate energy deals
Written By: Stratton Report
December 15, 2016
On December 15, Hannon Armstrong Sustainable Infrastructure Capital, Inc. announced that CounterPointe Sustainable Real Estate LLC and Hannon Armstrong will work jointly on C-PACE opportunities.
CSRE is the commercially focused affiliate of CounterPointe Energy Solutions LLC, a PACE program administrator responsible for residential and commercial PACE programs in CA, FL and NJ.
Hannon Armstrong President & CEO Jeffrey Eckel noted:
“As we’ve said for the last several years, we believe that profitably scaling C-PACE requires new approaches and new partners. We are delighted to be partnering with the experienced team at CounterPointe, which will allow us to capture more of the growing C-PACE market. This strategic alliance will enable us to expand programmatic C-PACE transactions across the U.S., putting capital to work in upgrading infrastructure in the built environment that simultaneously creates jobs and reduces a building’s carbon footprint.”
According to Hannon Armstrong, C-PACE is available in 32 states, plus D.C., and can be used to provide commercial, industrial, and multifamily properties access to low-cost, long-term financing for energy efficiency, water conservation and renewable energy projects. The firm emphasized that real estate owners can benefit from an immediate increase in cash flows and building value by reducing energy costs while financing 100% of the retrofit.