Opportunity

Scott Slosson, Chief Operating Officer of 28 Walker, was looking to develop the first heavy timber office building in Baltimore. With the rising construction costs, supply chain, and rampant inflation Slosson was looking to reduce his weighted average cost of capital in an effort to maintain project returns.

Our Solution

MD Energy Advisors structured a $2,500,000 CPACE loan that will optimize the capital stack and will be used to finance sections of the building envelope that contribute to its energy efficiency such as the windows, façade assembly, and exterior skin. A portion will also be used for the specialty HVAC systems engineered to improve air quality and stimulate outdoor airflow.

“This represented our first use of a C-PACE loan and, following a thorough analysis of the process, we determined the funding mechanism would be a highly-beneficiary component of the 40TEN capital stack. Pace Capital Group explained how C-PACE financing can substantially reduce the amount of equity needed for a construction project and they made it extremely easy to navigate through the process.”
Scott Slosson
Chief Operating Officer
28 Walker Development