EagleBank: Crazy PACE
Most of the time, an attorney gets to meet her client in person before closing a deal. And usually, an attorney is involved in a deal more than three weeks before a closing. And it’s rare that an attorney is advising a new client on a complex loan structure being used for the very first time. But Hirschler real estate partner Carrie O’Malley did exactly that.
When, in the eleventh hour, EagleBank needed advice related to a commercial Property Assessed Clean Energy (C-PACE) financing, Urban Ingenuity, the District of Columbia’s C-PACE program administrator, immediately referred the bank to Carrie. Carrie was introduced to EagleBank’s Andy Bridge over the phone. A creative underwriter and tenacious negotiator, Andy knows how to get a deal done. The two immediately got to work on a $25 million C-PACE loan – the largest in the country at the time – to build D.C. United’s Audi Field. Working around the clock, the dynamic duo closed the deal and forged an ongoing friendship built on loyalty and trust.
Having closed more C-PACE loans than any other lawyer in Washington, D.C., Carrie understands the financing structure inside and out. Drawing on her C-PACE experience in over a dozen states, she has helped the District and other municipalities improve their respective C-PACE programs and streamline the related financing documents.
In addition to working with innovative clients like Andy and EagleBank, Carrie’s reward comes in knowing that the C-PACE projects she supports have a positive impact on the community and the planet.