PACE Loan Group Continues Nationwide Expansion, Opens Office in Chicago

MINNEAPOLIS, Feb. 3, 2022 /PRNewswire/ -- PACE Loan Group ("PLG") (www.paceloangroup.com), a leading provider of Commercial Property Assessed Clean Energy (C-PACE) financing, has established an office space in downtown Chicago, IL. This cements PLG's national footprint and establishes a physical presence in Illinois' rapidly expanding C-PACE marketplace. The office at 444 North Michigan Avenue is shared with Midloch Investment Partners, a strategic affiliate specializing in commercial real estate LP and Co-GP equity investments.

PLG's expansion comes at the heels of closing two C-PACE financings in Illinois, a $5.7 Million financing for a hotel reflagging and renovation in Rosemont, IL, and a $1.9 Million financing for a townhome development in Chicago's suburbs. CEO Rafi Golberstein commented "We're pleased to put down roots in Chicago and bolster our presence nationwide. As an approved C-PACE capital provider throughout Illinois, we're excited to offer hands-on advising across the state."

PLG shares the office suite with Midloch Investment Partners ("Midloch"). Andy Sinclair, Midloch CEO, noted synergies between the two, "Both Midloch, as a provider of joint venture equity, and PLG, a PACE originator, are sources of equity for developers and operators, so we're looking at the same deals. The two sources of capital are synergistic. Being co-located with PLG will be beneficial to our clients. PACE is an asset to Midloch clients and vice-versa. We know that when a deal has C-PACE it only increases the equity returns."

PLG's Chicago office will be represented by Matthew McCormack, VP of Originations. The company is headquartered in Minneapolis, MN, and has loan originators located in the Midwest and both coasts. PLG is the most active C-PACE lender in Minnesota and has closed deals nationwide in 15 states.

Commercial developers can use C-PACE to obtain low-cost, long-term financing for sustainable building improvements. C-PACE utilizes borrowed capital which is repaid over a twenty to thirty-year period via tax assessments. According to PACENation, over $2 Billion of C-PACE loans have funded upwards of 2,500 commercial projects.

About PACE Loan Group

PACE Loan Group (PLG) is a national leader in the C-PACE marketplace, providing direct C-PACE financing to commercial property owners for energy-efficiency, renewable energy, water conservation, and seismic projects. The PLG team has decades of experience in commercial lending and structured finance, providing expertise up and down the capital stack. To learn more about PLG, visit our website at www.paceloangroup.com.

About Midloch

Midloch bridges the gap between quality real estate, quality investors, and quality management. Midloch invests as a joint venture equity investor in the small-to-middle market real estate transactions (deals valued between $5-$50 Million). Midloch focuses on investing in apartments, industrial, retail, and office properties using a value-add strategy. With collective backgrounds in real estate private equity investment, development, and lending, the Midloch team is uniquely positioned to seek out and uncover valuable real estate investment opportunities around the country. For more information, visit our website at www.midloch.com.

SOURCE PACE Loan Group

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