Lower Your Cost of Capital
C-PACE delivers long-term, fixed-rate, non-recourse financing that replaces mezz and preferred equity, improving DSCR, and lowering WACC.
C-PACE Capital Advisory
INSIGNIA arranges C-PACE for new construction, major renovations, and retroactive funding across multifamily, industrial, office, hospitality, and owner-occupied commercial properties nationwide.
Use the C-PACE Deal Analyzer below to model your capital stack, WACC, DSCR impact, energy savings, and amortization instantly.
| Tranche | % | Amount | Rate | Wtd Cost |
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Same total project cost · Senior rate and equity return carry from left
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Why C-PACE
How C-PACE Works
Eligibility & Qualified Improvements
- Multifamily (5+ units)
- Industrial & Logistics
- Office & Medical Office
- Hospitality & Retail
- Owner-Occupied Commercial
- Mixed-Use & Self-Storage
- High-efficiency HVAC, boilers, GSHP
- Envelope — windows, roofing, insulation
- Lighting & smart controls
- Renewables (solar PV) & battery storage
- EV charging infrastructure
- Resilience upgrades (state-specific)
- Ground-up new construction
- Major rehab & repositioning
- Retroactive financing (look-back window)
- Stabilized properties seeking recapitalization
- Value-add acquisitions with capex plans
- Portfolio-level energy improvement programs
C-PACE FAQs
Is C-PACE a loan?
No. C-PACE is financed as a special property assessment recorded against the property and repaid via the tax bill. The obligation runs with the land, not with the owner — meaning it is non-recourse to the borrower entity.
How long are C-PACE terms?
Programs commonly allow long amortizations aligned to the useful life of the improvements — often up to approximately 30 years depending on jurisdiction. Terms are typically fixed and fully amortizing, providing payment certainty across the hold period.
How does C-PACE impact my senior lender?
The senior lender typically signs an acknowledgment of the assessment. Unlike mezzanine financing, C-PACE does not require an intercreditor agreement or SNDA in many executions — simplifying the capital structure and reducing lender consent friction considerably.
Can I use C-PACE for completed projects?
Many programs support retroactive funding for eligible improvements completed within a defined look-back window. Look-back periods and eligibility criteria vary by state and local program — INSIGNIA can advise on availability in your market.
What improvements qualify for C-PACE?
Energy efficiency, renewable generation, and certain resilience measures (state-specific) — including HVAC systems, building envelope (windows, roofing, insulation), lighting and controls, solar installations, battery storage, and in some markets seismic and storm resilience upgrades.
How do repayments work if I sell the property?
The assessment is tied to the property and can transfer to the next owner at sale, subject to buyer and lender requirements. This transferability can support exit strategy flexibility and may be a selling point for buyers seeking energy-efficient, lower-operating-cost assets.
Are there energy savings tests or SIR requirements?
Many states require documented savings thresholds or a Savings-to-Investment Ratio (SIR) analysis supported by third-party engineering review. A common threshold is SIR ≥ 1.0 — projected lifetime savings must equal or exceed the investment. The Energy & SIR tab in the C-PACE Deal Analyzer allows you to estimate your project's SIR before engaging engineering.
How much can I finance with C-PACE?
Finance amounts typically range from a few hundred thousand to tens of millions of dollars, subject to program maximums (often expressed as a percentage of assessed or appraised property value — commonly 20–35%). The financed amount must also be supported by eligible improvement costs and, where required, the SIR analysis. INSIGNIA can size an indicative C-PACE tranche for your specific project.
What interest rates does C-PACE carry?
C-PACE rates are fixed for the full term and are generally priced in line with investment-grade bond markets, typically lower than mezzanine debt or preferred equity. Rates vary by program, jurisdiction, lender, and market conditions. Contact INSIGNIA for current indicative pricing in your target market.