Why PropertyFit?

PropertyFit financing can be used for energy efficiency, renewable energy, water conservation, and seismic resiliency upgrades in existing buildings, new construction, and major renovation projects in Multnomah County, turning what was once a capital expenditure into an investment in improved performance. PropertyFit minimizes an owner’s up-front investment while lowering operating costs, improving the value and market competitiveness of the asset, and helping the property achieve building performance mandates. In many cases, project savings are more than enough to cover repayments, making the project cash flow positive from day one.


Unique Components of PropertyFit Financing

Unique components of PropertyFit Financing include:

Up to 100% Financing

Many owners lack capital to pay for building resiliency improvements. PropertyFit provides up to 100% financing for qualified building upgrades. Audit, construction and financing costs can be wrapped into PropertyFit financing.

Long-Term Financing

Commercial real estate lenders will often amortize their loan over a 20-year period, but will require a balloon payment in 5-10 years. With PropertyFit, the maximum term is based on the average weighted life of the improvements being installed. The fully amortized nature of the PropertyFit financing allows property owners to pursue more comprehensive building upgrades.


The PropertyFit financing is secured by a benefit assessment lien filed against the property. This unique lien structure is attractive to investors and may qualify for advantageous accounting treatment.*

No Personal Guarantee

PropertyFit is strictly property-based financing secured by an assessment lien on the property. As a result, the property owner is not personally obligated to repay the assessment.

Transfers Upon Sale

A property owner may want to sell the building before the PropertyFit financing is repaid. The PropertyFit benefit assessment lien is attached to the property and the unpaid balance automatically transfers with ownership—no assumption application or credit review required.

Does Not Accelerate

Unlike a traditional mortgage, the principal balance of which can be called due and payable in the event of default (called acceleration), only the annual benefit assessment is considered in-default if not paid when due. The balance of the benefit assessment remains outstanding and is payable under the terms of the original agreement.

Cost Recovery*

PropertyFit may help solve the “split incentive” or misalignment of incentives that arises between owners and tenants. Owners are less likely to undertake comprehensive building resiliency improvements when they pay for the improvements but tenants receive the financial benefits through lower utility bills. Under some leases, the PropertyFit structure may enable an owner to pass the benefit assessment onto the tenants, thus solving the split incentive.

New Construction Treatment

PropertyFit financing may substitute for higher cost mezzanine and equity financing, while potentially lowering your weighted average cost of funds. Click here to learn more.

*Note: Property owners are strongly encouraged to conduct their own evaluation and consult with their attorney, accountant or other professionals to determine the appropriate treatment of the benefit assessment.