Global law firm Greenberg Traurig, LLP’s Philadelphia office will continue its 2024 CLE series March 5 with a lunchtime presentation to aid legal practitioners and real estate professionals seeking to learn more about commercial property assessed clean energy (C-PACE) financing.
Real Estate Shareholder Michael A. Suleta and Associate Frederick H. Mitsdarfer, III will offer the hourlong session discussing fundamental C-PACE concepts, roles, issues, and potential benefits when using this financing tool for real estate projects.
Expanding in growth and usage, this alternative financial solution has gained attractiveness and traction recently due to economic unpredictability and sustainability focus. C-PACE uses borrowed capital to fund upfront costs of energy efficiency or renewable energy improvements, both of which often enhance overall project value.
With its longer-term financing and transferability of repayment obligations, C-PACE holds compelling features for investors and developers, as well as a host of nuances to understand. Offered on a jurisdictional level via state legislation, PACE and C-PACE projects currently exist in 38 states and the District of Columbia, with New Jersey expected to soon join the list, according to PACENation, an industry nonprofit.
Suleta and Mitsdarfer will review players, legal considerations for negotiating, and executing such deals, as well as the potential for C-PACE financing. Registration for this hybrid event is required. Click here for details.
Suleta, who previously served as a financial management consultant for a Big Four accounting firm, handles acquisitions, dispositions, leasing, and management of multifamily, industrial, office, retail, and hotel properties in his practice. He regularly handles complex joint ventures, affordable housing developments, commercial leasing, distressed assets, sophisticated real estate workouts, and commercial foreclosures in his practice. Representing developers, institutional investors, and lenders nationwide, Suleta is based in the Philadelphia office, barred in Pennsylvania, New Jersey, Delaware, and California.
Mitsdarfer, resident in the firm’s Delaware office, focuses his practice on complex transactions involving the acquisition, finance, development, leasing, and disposition of real estate. He supports clients – from lenders to joint venture operators – in nearly all aspects of real estate development, including land use and zoning matters.
CLE credit for this program is pending approval for Pennsylvania, New Jersey, Delaware, Florida, Georgia, Illinois, Colorado, California, and Texas. Credit also will be sought for New York, Virginia, Minnesota, Oregon, and Utah.
The Philadelphia office, one of the firm’s 47 offices, will offer regular CLE sessions across practices, bringing thoughtful exploration and dialogue to emerging legal topics impacting the immediate region and beyond. In January, the office series opened with a review of Pennsylvania election law, a two-part program led by Pennsylvania Government Law & Policy Chair and Shareholder Kevin Greenberg.
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