Denver-based C-PACE Financier Secures $500 Million for Sustainable CRE
DENVER — Lever Energy Capital, a Denver-based Commercial Property Assessed Clean Energy (C-PACE) financier, has officially launched one of the largest dedicated C-PACE ventures in the country, and the only one in Colorado. The company now has the ability to originate up to $500 million in C-PACE financings for sustainable commercial real estate.
C-PACE financing is unique in that it offers building owners long-term, low cost, fixed rate, financing payments through property taxes. C-PACE financing is currently available in 21 states for a variety of eligible energy efficiency, renewable energy, water conservation, and hazard mitigation upgrades. Through C-PACE financing Lever aims to help ensure that our nation’s buildings become more efficient, sustainable, comfortable and profitable than ever before.
“Today is an exciting day as it starts our journey toward financing a better future for commercial real estate,” said Lever Energy Capital President, Mark Boyer. “We are now able to provide our clients with access to private capital at the most competitive rates available and can help commercial real estate owners optimize their assets and improve their bottom line through C-PACE financing.”
The venture is in partnership with Crescent Real Estate, a fully integrated real estate investment and development company.
“We are excited to partner with Lever Energy Capital on this project,” noted Crescent Real Estate Vice President, Brian Terpstra. “We believe Lever is the right partner for this project. Lever brings a wealth of C-PACE experience and knowledge which complements our real estate expertise very well.”
Through its platform with Crescent, Lever will help more property owners finance energy efficiency, renewable energy, water conservation and hazard mitigation upgrades. These upgrades are often immediately cash flow positive as they improve the value of the building, significantly reduce operating costs and bring a variety of tax benefits.
“Our team’s expertise, combined with our dedicated capital, allows us to source and close deals quickly, reliably and with total transparency,” noted Boyer. “Through making smarter, more efficient and comfortable buildings, we believe C-PACE is a win-win for companies, tenants, communities, and the planet.”
Photo courtesy of Lever Energy Capital