Use of PACE financing for renovations, construction growing for commercial buildings

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“Commercial property owners received hundreds of millions of dollars in PACE financing in 2017—more than twice the total amount of deals closed in 2016. It is now possible to arrange PACE financing in more than half the states in the United States. Also, as more property owners learn how to use this complicated financing tool, PACE deals are becoming larger. The amount of PACE financings that have been completed is growing quickly. For example, borrowers completed $222 million in PACE financings in 2017, up from $132 million in 2016, according to data from PACE Nation.”

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