The Illinois Energy Conservation Authority NFP Secures $10.9M C-PACE Financing For Rockford Multifamily Project

An energy-efficient multifamily project located at 150 Loomis Street in Rockford, Illinois has secured $10.9 million in C-PACE financing. The project, backed by The Illinois Energy Conservation Authority NFP (IECA), aims to make several improvements to the property, including HVAC, lighting, window, roofing, and water conservation upgrades. These enhancements are projected to generate approximately $12 million in utility savings over 30 years and create 165 local jobs.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $10,900,000
• Units: 215
• Market: Rockford
• Lender: PACE Equity - Beau Engman
• Landlord: The Illinois Energy Conservation Authority NFP - Mark Pikus
• Loan Type: Refinance
• Loan Terms: 30-year

The financing was provided by PACE Equity, with Beau Engman as the lender's representative. The property is owned by The Illinois Energy Conservation Authority NFP, with Mark Pikus acting as their landlord. This deal marks an important step towards energy efficiency and sustainability in the Rockford market.