Inland Green Capital LLC (“Inland Green Capital”) is excited to announce a new collaboration with Inland Mortgage Capital, LLC (“IMC”), a private lender specializing in intermediate-term mortgages for value-add commercial real estate and selective new construction. Both companies are members of The Inland Real Estate Group of Companies, Inc. (“Inland”) and the relationship between the two Inland companies streamlines and expands funding for commercial owners seeking Property Assessed Clean Energy (“PACE”) financing in addition to bridge financing.
For over a decade, Inland Green Capital has worked with commercial real estate owners, developers, contractors and local governments to achieve enduring clean energy benefits through PACE funding. Eligible improvements including renewable energy, energy efficiency, water conservation, electrical vehicle charging and resiliency, enhancing sustainability for properties while lowering both operating expenses and the cost of capital.
“One of the most challenging hurdles we often see with commercial property owners seeking PACE funding is finding the right mortgage lender that understands the PACE financing process,” commented Mark Pikus, president of Inland Green Capital. “Coming together with IMC not only helps streamline the process, it provides a flexible structure and a number of benefits including a one-stop shop for a property owner’s financing needs and collaboration with related companies that will simplify the closing process.”
IMC is a private lender that provides non-recourse1 financing for commercial real estate nationwide2, concentrating on projects with loan sizes from $3 to $15 million. IMC’s program is freely prepayable at any time, providing excellent flexibility for its borrowers in challenging times. Also, IMC does not charge interest on future loan advances until they are disbursed.
“We are excited to collaborate with Inland Green Capital on a potential hybrid arrangement of first mortgage financing and PACE financing for the borrower’s capital stack,” said Art Rendak, president of IMC. “Our IMC team is very knowledgeable about the PACE financing process, and we believe this financing combination could be especially valuable to our mutual customers amid the volatile credit environment in the U.S. right now.”
In the more than 25 years that IMC has been providing debt capital, IMC has prided itself on flexible structuring and innovative capital options. The potential combination of IMC’s first mortgage financing and IGC’s PACE capital is the next iteration.
(This news/press release has not been altered by investment.net, apart from the headline, and has been obtained from a syndicated source:- https://inlandgroup.com/press-room/news-release/inland-green-capital-collaborates-inland-mortgage-capital-streamline-pace)