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 Property Assessed Clean Energy (PACE) financing, Urban Ingenuity, the District of Columbia’s 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 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 PACE loans than any other lawyer in Washington, D.C., Carrie understands the financing structure inside and out. Drawing on her PACE experience in over a dozen states, she has helped the District and other municipalities improve their respective 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 PACE projects she supports have a positive impact on the community and the planet.