Barrett Capital provides long term, fixed rate, non-recourse capital to building owners and developers in the form of inexpensive outside equity or mezzanine financing at half the market price. This allows you to reduce your and your investors’ equity requirements or, could fill a financing gap in your capital stack. PACE Equity financing can pair with a wide range of different financing components including Tax Increment Financing (TIF), The Historic Tax Credit (HTC), The New Markets Tax Credit (NMTC) and the Immigrant Investor Program, or EB-5. In short, Barrett & PACE financing provides affordable funds to make your project happen.
These are all solutions that PACE has provided nationwide. We fill your capital stack while reducing your operating costs. We do this by providing turnkey project development, energy engineering and financing. Our clients have described PACE as a “critical piece” of the funding puzzle. Contact Barrett Capital to learn about the PACE financing solution and how you can plug it in to your capital stack.
Barrett Capital offers a one stop, turnkey solution offering engineering, approvals and 20 to 25-year long term low fixed rate funding of utility, water or renewable items having a positive impact on a building. These fundings which are paid back through an addition to the real estate tax bill offer numerous benefits including:
- 20 to 25-year low fixed rate financing
- Non-recourse to the building owner
- Available for property renovations, redevelopment, and new construction projects
- Works with simple or complex capital structures, up to 20% of the property’s value
- Up to 50% reduced cost to mezzanine debt, preferred or straight equity, and/or construction rates, which serves to boost IRR
- Can be used to address capex needs or replace/fill a gap in capital stacks on development projects
Capital is Available Today – We’re able to provide PACE Financing for your projects in any state in which PACE has been approved. We handle everything related to this public-private partnership to ensure project completion: paperwork, bank approvals, local requirements, energy engineering, and the important part – the financing.offer
Benefits of Barrett & PACE
- Low-cost equity
- Pass costs onto tenants
- Non-Recourse
- No required repayment upon sale of the property
- 10-20% of total development costs
- Tax treatment as an operating expense
- Prepayment flexibility
- 20-25 year fixed rate financing
PACE Eligible Components
- Commercial Boilers
- Windows
- Solar PV
- HVAC Systems
- LED Lighting
- Controls
- Escalators
- Elevators
- Parking Lights
- Fume Hoods
- Chillers
- Cool Roofs
- Refrigeration
PACE Building Types
- Commercial
- Hospitality
- Industrial
- Retail
- Office
- Not for Profit
- Hospital / Medical
- Assisted Living
- Low Income Housing
- Multifamily