Petros PACE Finance & Twain Financial Partners Close $4 Million C-PACE Loan In Nebraska

First Commercial Property Assessed Clean Energy Deal In The State

AUSTIN, Texas- Petros PACE Finance, LLC (petros-pace.com) and Twain Financial Partners today announced the closing of a $4 million Commercial Property Assessed Clean Energy (C-PACE) transaction. The project will fund energy efficiency upgrades to a 106-year-old building in downtown Omaha, turning the historic structure into a 90-room Hilton Curio Hotel.

“The principals of Petros have known the principals of Twain for many years. We are happy to close this transaction together,” said Petros Co-Founder and CFO Jim Stanislaus.

“Since we are both steering team members of the C-PACE Alliance (www.c-pacealliance.com), we’re happy to expand our relationship further by working on this transaction with the Petros team,” said Andy Meyer, Twain’s Director of PACE Financing.

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Property owner AAD Capital Partners will use the C-PACE financing to purchase and install energy efficient items: New lighting, roof, windows, HVAC, building automation system, elevators and low-flow plumbing.

“We could not be more pleased—PACE introduces a new solution for building upgrades with no additional cost to the owner,” said Edward Chen of AAD Capital Partners.
Chattanooga-based ViaNova Development, a specialist in renovating older buildings, is the project developer.

The loan was originated by PACE Sage Capital, a Midwest-based firm specializing in originating quality C-PACE transactions.

The upgrades are expected to generate over $3.5 million in energy savings over the 15-year loan. The borrower will repay the loan via a special assessment on their local property tax.

“Adaptive reuse of large, older buildings is always a challenge, particularly when it comes to improving energy efficiency,” said Petros PACE Finance CEO Mansoor Ghori. “The C-PACE program allows property owners to be cash flow positive from day one.”

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