Hirschler leverages its deep experience in commercial real estate and finance transactions to provide pragmatic legal counsel to capital providers, program administrators, building owners and municipalities throughout the lifecycle of a commercial PACE (C-PACE) project. Hirschler’s C-PACE team has broad national experience in 13 of the 21 states with active programs, including Arizona, Colorado, Connecticut, Maryland, Minnesota, Missouri, Ohio, Rhode Island, Wisconsin and the District of Columbia. Hirschler attorneys are also actively involved in developing the Virginia PACE market and educating C-PACE stakeholders regarding various legal and business considerations in a C-PACE transaction.
Armed with extensive C-PACE knowledge in a variety of jurisdictions, Hirschler’s multidisciplinary team advises clients on all transactional elements of a C-PACE deal — from financing negotiations to real estate due diligence to loan documentation and compliance with state and local law.
Among our key services:
- Negotiating C-PACE financing and assessment documents.
- Conducting due diligence to ensure C-PACE assessment lien priority.
- Reviewing transaction documentation to confirm compliance with C-PACE legal requirements and program guidelines.
- Assisting municipalities with C-PACE ordinance drafting and program creation and management.
- Issuing legal opinions for C-PACE programs and transactions in Maryland and the District of Columbia
- Hirschler is a member of C-PACE Alliance and PACENation
- Hirschler C-PACE attorneys have spoken at multiple events hosted by Mid-Atlantic PACE Alliance (MAPA), Council of Development Finance Agencies (CDFA) and PACENation
Represented EagleBank in $25 million PACE financing for the D.C. United Soccer Stadium, the third largest PACE deal on record in the United States. Supported all parties in the complex capital structure by providing extensive PACE knowledge, leading to the successful closing of D.C.’s largest and first new construction PACE deal.
Assisted real estate investor client with $2.2 million C-PACE assessment loan – the first PACE-funded office construction project in the United States (Milwaukee, Wisconsin).
Represented capital provider client in $2.8 million new construction, micro-apartment project –the first C-PACE new construction project in Colorado and the first C-PACE project in Denver.
Advised national capital provider client in connection with the first rated C-PACE securitization in the country.
Closed the first multifamily, new construction PACE project in the United States (Little Rock, Arkansas).
When, in the eleventh hour, EagleBank needed advice related to a Property Assessed Clean Energy (PACE) financing, a mutual contact immediately referred the bank to real estate finance partner Carrie O'Malley.
- Abby Johnson Authors “C-PACE: An innovative finance opportunity for Petersburg” Opinion Piece for The Progress-Index07.08.2019
- Austin, Texas, 02.10.2019 - 02.13.2019
- Fredericksburg, VA, 12.11.2018
- Fredericksburg, VA, 12.11.2018
- Richmond, VA, 12.04.2018
- Austin, TX, 10.21.2018
- Carrie O'Malley Participates as Panelist for Intro PACE Finance WebCourse for Council of Finance Agencies (CDFA)12.06.2017
- Commercial Property Executive, 02.21.2019
- Firm News25 Hirschler Lawyers Named to 2020 Best Lawyers®, 2 Named “Lawyers of the Year”
- Client NewsAbby Johnson Authors “C-PACE: An innovative finance opportunity for Petersburg” Opinion Piece for The Progress-Index
- Client NewsPACE Equity Deal First in Nation to Combine PACE Funding and an Opportunity Zone Fund