Program Overview

PropertyFit is not your traditional loan. It is an innovative financing tool called Commercial Property Assessed Clean Energy (CPACE) financing that unlocks savings in commercial, industrial and multifamily (5+ units) buildings—transforming what was once a capital expenditure into a cash flow positive investment in improved building performance. Available for both new construction and existing buildings, the unique elements of PropertyFit include:

  • Up to 100% financing = no out-of-pocket costs
  • Competitively priced, long term, fully amortized financing
  • No personal guarantees
  • Secured by a benefit assessment which automatically transfers upon sale
  • Repaid in annual assessments which cannot accelerate
  • May substitute for higher cost mezzanine debt in new construction projects

For the first time, property owners have a financing tool designed to fit their specific need—whether it is replacing failed equipment or larger building renovation. PropertyFit’s structure addresses the principal barriers to investment in improved building performance such as energy and water efficiency projects. It offers property owners up-front financing for up to 100 percent of the cost of eligible improvements and is secured by a benefit assessment lien that is repaid in annual assessment payments. The maximum term is set at the average weighted useful life of the improvements. The cost savings that result from the improvements will cover all or a portion of the benefit assessment payment.

 

Availability

Multnomah County

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PropertyFit is based on the Commercial Property Assessed Clean Energy (C-PACE) financing tool that is being used by cities and states across the U.S. to enable building owners to finance energy efficiency and renewable energy improvements.

Visit PACENation to learn more
about C-PACE.