C-PACE Financing, Laura Rapaport @ North Bridge

Real Angle: Building Success in Commercial Real Estate

In this interview, I spoke with Laura Rapaport, CEO of North Bridge (www.northbridgeops.com). Her company provides C-PACE financing ("Commercial Property Assessed Clean Energy"). C-PACE is a financial tool for property owners to obtain low-cost, long-term financing for energy-efficient equipment, renewable energy, water conservation, resiliency, and indoor air quality projects. It can provide up to 100% funding of total project costs by placing a special voluntary assessment on the property that repays the costs of the upgrades, including equipment, labor, and soft costs.

We discuss the state of the C PACE market, its growth path, and its use in today's credit-constrained market as "rescue capital." We also talk about the patchwork of regulation regarding C PACE and how it's not so simple as having a State pass a law that authorizes its use.

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