PACE in the Development Capital Stack

Enjoyed Our Webinar? Download the Slides

Download Slides


Property Assessed Clean Energy (PACE) is a hot topic among developers as it has the capacity to replace expensive equity and mezz in the capital stack and improve developers’ WACC.

In this 30-minute webinar, CleanFund – the nation’s largest direct commercial PACE lender will explain:

• What is PACE?

• PACE terms, structure and how it improves the WACC

• Representative PACE development projects and types of projects PACE is best for

• How PACE works with the senior lender and why lenders are consenting to PACE


Joshua Kagan is Managing Director for CleanFund where he focuses on cultivating channel partnerships and structuring accretive transactions for commercial real estate owners and developers. Joshua holds a Master’s degree from the London School of Economics and Bachelor’s degree from Wesleyan University.

Jason Bass, Director of Finance at EKN Development Group. Jason has over 25 years of real estate, accounting, economic, financial and market research and analysis experience. Jason’s work has included financial feasibility analysis, investment deal structuring and capital aggregation for a wide range of hotel and resort developments in the US and abroad; economic and fiscal impact evaluation in support of public investment in real estate and natural resource development programs; valuation, accounting, economic and monetary damages assessment in support of expert witness testimony in commercial litigation matters and market and supply/demand evaluations to support of real estate development planning and programming.

Keep Up With the Latest CleanFund News

Resource Center

Case Study

Hotel Indigo, Kansas City

25 Jan 2017

The high-efficiency HVAC systems, LED lighting, new electrical, and improved water heater and control systems result in 33% in energy savings over time.

Read More

Case Study

Seagate Properties Office Headquarters

11 May 2018

The upgrades will not only improve the properties’ cash flows but also drive value through reduced energy and operating costs.

Read More


The New Capital Stack: Myth-Busting C-PACE

28 Sep 2018

The layers of the capital stack are shifting. This webinar highlights the newest component – Commercial PACE (“C-PACE”) – scoping out what PACE is used for and how it can complement other forms of capital.

Watch Webinar