Latest news with #CommercialPropertyAssessedCleanEnergy
Yahoo
27-05-2025
- Business
- Yahoo
Lone Star PACE Selected as an Administrator of North Central Texas Council of Governments' Regional C-PACE Program
DALLAS, May 27, 2025 (GLOBE NEWSWIRE) -- North Central Texas Council of Governments (NCTCOG) has selected Lone Star PACE to serve as an administrator of its newly launched Commercial Property Assessed Clean Energy (C-PACE) program, marking a significant step toward expanding sustainable development across the rapidly growing North Texas region. C-PACE is an innovative financing mechanism that enables commercial property owners to fund energy efficiency, water conservation and renewable energy improvements through long-term, fixed-rate financing repaid via a voluntary property assessment. This approach allows property owners to undertake substantial building upgrades without upfront capital, often resulting in improved cash flow and increased property value. Lee McCormick, President of Lone Star PACE, said: 'We are honored to partner with NCTCOG in bringing a unified C-PACE program to North Texas. This regional approach simplifies access to sustainable financing, fostering economic development and resource conservation across multiple jurisdictions.' The introduction of a regionwide C-PACE program is poised to deliver significant sustainability benefits. By facilitating energy and water efficiency upgrades, the program supports the conservation of vital natural resources that are experiencing record-high demand due to North Texas's rapid population growth and influx of corporate relocations. For municipalities, the regional C-PACE program presents an opportunity to stimulate local economies without relying on taxpayer dollars. By enabling private investment in private buildings, cities and counties can drive job creation, enhance the local tax base and promote environmental stewardship. Susan Alvarez, Director of Environment & Development for NCTCOG, said: 'We look forward to expanding PACE resources in the NCTCOG region!' Property owners stand to benefit from reduced operating costs, improved building performance and access to investment-grade capital that can be used for a wide range of eligible improvements, including HVAC systems, lighting, insulation, solar panels and water conservation measures. Lone Star PACE brings extensive experience to its role as program administrator, having facilitated more than $330 million in C-PACE assessments for projects totaling $1.5 billion across Texas. The firm's collaborative approach involves working closely with local governments, property owners, capital providers and senior lenders to ensure successful project implementation. About Lone Star PACELone Star PACE serves as a program administrator for city and county Commercial Property Assessed Clean Energy (C-PACE) programs in Texas. LSP helps local governments, economic development corporations, chambers of commerce and trade associations promote economic development and resource conservation by facilitating C-PACE projects alongside property owners, C-PACE capital providers, contractors and other stakeholders. The company's goal is to promote sustainability as well as increased property values while positively impacting cash flow and utility savings. For more information, visit About North Central Texas Council of GovernmentsThe North Central Texas Council of Governments (NCTCOG) is a voluntary association of local governments established in 1966 to assist local governments in planning for common needs, cooperating for mutual benefit and coordinating for sound regional development. NCTCOG's purpose is to strengthen both the individual and collective power of local governments and to help them recognize regional opportunities, eliminate unnecessary duplication, and make joint decisions. NCTCOG serves a 16-county region of North Central Texas, which is centered in the two urban centers of Dallas and Fort Worth. For more information on the Environment and Development Department, visit Media Contacts: Olivia LueckemeyerDirector of Marketing & Media RelationsLone Star PACEolivia@ Susan AlvarezDirector of Environment & DevelopmentNorth Central Texas Council of Governments (NCTCOG)salvarez@
Associated Press
19-03-2025
- Business
- Associated Press
Aemetis Plans $130 Million Funding Under Newly Expanded Stanislaus County C-PACE Program
NEWMEDIAWIRE) - Aemetis, Inc. (NASDAQ: AMTX), a renewable natural gas and renewable fuels company focused on low and negative carbon intensity renewable fuels, announced today that the Stanislaus County Board of Supervisors unanimously approved an extension of the County's Commercial Property Assessed Clean Energy (C-PACE) program at its March 11, 2025, meeting. Established by the approval of local governments, C-PACE programs can be used by private industry to finance energy efficiency upgrades and renewable energy facilities. 'We appreciate the Board and staff of Stanislaus County for their support of the C-PACE program in Stanislaus County that we expect to help Aemetis fund energy efficiency and renewable energy projects and refinance recently completed projects,' stated Eric McAfee, chairman and CEO of Aemetis. 'The C-PACE program provides longer 30 year terms and repayment through property tax bills so provides a new source of capital for growing our business.' Stanislaus County's recent action approves participation in the California Enterprise Development Authority, which allows financing of private projects through state municipal bonds that are free of state taxes to the lenders. In addition, payments through County property tax bills provide lenders enhanced protections and liquidity, helping raise funds for qualifying projects. Aemetis renewable energy and energy efficiency projects expected to be eligible for C-PACE financing include the Keyes plant mechanical vapor recompression system, the expansion of dairy renewable natural gas production, and the planned Riverbank Sustainable Aviation Fuel plant, as well as refinancing of the recently completed Keyes solar generation system and renewable natural gas upgrading hub. About Aemetis Headquartered in Cupertino, California, Aemetis is a renewable natural gas and renewable fuel company focused on the operation, acquisition, development and commercialization of innovative technologies that replace petroleum products and reduce greenhouse gas emissions. Founded in 2006, Aemetis is operating and actively expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas. Aemetis owns and operates a 65 million gallon per year ethanol production facility in California's Central Valley near Modesto that supplies about 80 dairies with animal feed. Aemetis owns and operates an 80 million gallon per year production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin. Aemetis is developing a sustainable aviation fuel and renewable diesel fuel biorefinery in California, renewable hydrogen, and hydroelectric power to produce low carbon intensity renewable jet and diesel fuel. For additional information about Aemetis, please visit Safe Harbor Statement This news release contains forward-looking statements, including statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements include, without limitation, projections of financial results in 2025 and future years; statements relating to the development, engineering, financing, construction and operation of the Aemetis ethanol, biogas, SAF and renewable diesel, and carbon sequestration facilities; our ability to promote, develop, finance, and construct facilities to produce biogas, renewable fuels, and biochemicals; and statements about future market prices and results of government actions. Words or phrases such as 'anticipates,' 'may,' 'will,' 'should,' 'believes,' 'estimates,' 'expects,' 'intends,' 'plans,' 'predicts,' 'projects,' 'showing signs,' 'targets,' 'view,' 'will likely result,' 'will continue' or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to numerous risks and uncertainties. Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to federal policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission, including our Annual Reports on Form 10-K, and in our other filings with the SEC. We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws. External Investor Relations Contact: Media Contact: Todd Waltz (408) 213-0940
Associated Press
07-02-2025
- Business
- Associated Press
$33.7 Million C-PACE Financing Secures Future for Four Seasons Embarcadero Hotel in San Francisco
SAN FRANCISCO, CALIFORNIA / ACCESS Newswire / February 7, 2025 / The iconic Four Seasons Embarcadero Hotel, a recently renovated and rebranded luxury property in the heart of San Francisco, has secured $33.7 million in Commercial Property Assessed Clean Energy (C-PACE) financing to fund sustainable upgrades to its plumbing, building envelope, and electrical systems. This financing comes at a pivotal moment for the 155-key hotel, located at 222 Sansome Street, which was facing foreclosure before the transaction was completed. The C-PACE funding will support sustainability-focused improvements that enhance energy efficiency and long-term resilience, reinforcing the commitment to modern, environmentally conscious hospitality by one of San Francisco's premier luxury hotels. 'This transaction demonstrates the strength of CounterpointeSRE's innovative financing solutions in preserving landmark properties and supporting the revitalization of San Francisco's hospitality sector' said Eric Alini, CEO of CounterpointeSRE. CounterpointeSRE has strengthened its hospitality lending platform with the addition of industry veterans Gavin Elwes, Jo Hastings, and Kyle Geoghegan. C-PACE financing is designed to support energy-efficient and sustainable building upgrades, allowing property owners to repay costs through a special property tax assessment. The structure enables long-term investment in infrastructure without the burdens of traditional debt. Preserving Key Economic Assets The Four Seasons Embarcadero Hotel, perched on the top floors of a historic high-rise, offers panoramic views of the city and San Francisco Bay. Following the extensive renovation, the hotel continues to be a sought-after destination for both business and leisure travelers. This transaction highlights the growing role of C-PACE financing in urban markets facing economic challenges. The hospitality industry has been reported to be the largest asset class to incorporate C-PACE into capital stacks for new construction as well as recapitalizations. With this financing in place, the Four Seasons Embarcadero is positioned for long-term success while maintaining its status as a premier luxury destination in San Francisco. About CounterpointeSRE CounterpointeSRE operates at the intersection of commercial real estate and energy industries providing mortgage, C-PACE and other energy financial products. As a portfolio company of MassMutual, our focus is to provide one-stop sustainable finance solutions to commercial real estate owners/operators.
Yahoo
27-01-2025
- Business
- Yahoo
D2 Capital Advisors secures $23.5m for Residence Inn in Wilmington
D2 Capital Advisors has arranged $23.5m in construction financing for a new Residence Inn by Marriott hotel in Chestnut Run Innovation & Science Park (CRISP) in Wilmington, Delaware, US. The extended stay hotel is a project by CRISP Hotel Partners, a collaboration between MRA Group and Gulph Creek Hotels. The hotel will occupy 90,000ft² of space and will have 127 keys. The financing for this development was arranged by D2 Capital Advisors' team members Jack Cortese, David Frankel, and John Lightcap. WSFS Bank and Nuveen Green Capital are providing the financial backing for the project. MRA Group executive vice president & partner Phil Butler said: "D2's hotel financing experience and creativity in structuring the capital stack were extremely valuable to us throughout the financing process. "Their team's flexibility, determination, and understanding of our objectives were significant drivers in D2's ability to structure the financing in this complex lending environment." The upcoming hotel will be situated in the Greenville suburb of Wilmington adjacent to a community of corporations, including DuPont and Corteva's global headquarters. It aims to serve various businesses within CRISP, such as Prelude Therapeutics, Solenis, and Celanese, while also drawing leisure visitors to the Brandywine Valley. In December 2021, MRA Group acquired the property and initiated the phased redevelopment of the CRISP campus, which is expected to exceed 1.3 million ft². The company has transformed CRISP into the centre for scientific innovation and advanced production. The funding structure includes senior bank debt, C-PACE (Commercial Property Assessed Clean Energy), subordinate D-PACE (Delaware PACE), and partner equity contributions. Construction is anticipated to start in January 2025, with an expected completion date in Summer 2026. IMC Construction has been appointed as the construction manager for this endeavour. D2 Capital Advisors vice president Jack Cortese said: "Having a strong established sponsor in MRA Group and Gulph Creek Hotels with experience and a track record of success was fundamental in securing hotel construction financing. "Still, the multilayered capital stack presented hurdles that we, the sponsor, and the lenders, were collectively able to overcome and deliver a cost efficient and flexible financing solution." "D2 Capital Advisors secures $23.5m for Residence Inn in Wilmington " was originally created and published by Hotel Management Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
