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Clean Fund The public securitization includes improvements for the property at 644 Broadway (bottom row middle).

SAN FRANCISCO—The industry’s first securitization backed exclusively by commercial property-assessed clean energy/C-PACE was issued for 82 US properties (pursuant to rule 144A under the Securities Act of 1933). This is the largest and highest-rated C-PACE securitization of any kind.

The securities are backed by $115 million of C-PACE assessments on the properties in six states on the West Coast, East Coast and in the Midwest. The properties include the 17-story Statehouse Square office building in Harford, CT; The River, a shopping center in the Coachella Valley; the historic 510,000-square-foot Butler Bros. building which was revitalized into a Marriott hotel and apartments in Dallas, a three-story 80,000-square-foot office building and parking structure in Glendale, CA; the 45,000-square-foot mixed-use property, 644 Broadway in San Francisco; and the historic Camelot Theatres in Palm Springs, CA.

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Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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