Lever Energy Capital, Crescent Launch $500M Sustainable RE Fund
Company officials say the $500-million fund is one of the largest in the nation, and the only one of its kind in the state of Colorado.
DENVER— Lever Energy Capital, a Denver-based Commercial Property Assessed Clean Energy (C-PACE) financier, has launched, in partnership with Fort Worth, TX-based Crescent Real Estate, a venture to originate $500 million in sustainable commercial real estate financing.
Company officials say the $500-million fund is one of the largest in the nation, and the only one of its kind in the state of Colorado. C-PACE financing offers building owners long-term, low cost, fixed rate, financing payments through property taxes.
C-PACE financing is currently available in 21 states for a variety of eligible energy efficiency, renewable energy, water conservation and hazard mitigation upgrades. Through C-PACE financing, Lever states that it aims to help ensure buildings become more efficient, sustainable, comfortable and profitable.
“Today is an exciting day as it starts our journey toward financing a better future for commercial real estate,” says Lever Energy Capital president Mark Boyer. “We are now able to provide our clients with access to private capital at the most competitive rates available and can help commercial real estate owners optimize their assets and improve their bottom line through C-PACE financing.”
Crescent Real Estate VP Brian Terpstra adds, “We believe Lever is the right partner for this project. Lever brings a wealth of C-PACE experience and knowledge which complements our real estate expertise very well.”