As list of states offering C-PACE financing continues to grow, global law firm is set to provide a March 5 primer on this alternative financing option for development
PHILADELPHIA – Feb. 14, 2024 – 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.
About Greenberg Traurig's Global Real Estate Practice: The Greenberg Traurig Real Estate Practice is a cornerstone of the firm and a recognized leader in the industry. The firm’s real estate attorneys deliver diversified and comprehensive counsel for property acquisition and investment, development, management and leasing, financing, restructuring, and disposition of all asset classes of real estate. The team draws upon the knowledge and experience of more than 700 real estate lawyers from around the world, serving clients from key markets in the United States, Europe & the Middle East, Asia and Latin America. The group’s clientele includes a broad range of property developers, lenders, investment managers, private equity funds, REITs, and private owners. The real estate practice advises clients on a variety of matters across a broad spectrum of commercial, recreational, and residential real estate, including structured equity and debt and hybrids.
About Greenberg Traurig’s Philadelphia Office: Founded in 1997, the Philadelphia office provides multidisciplinary legal services with a team of more than 60 attorneys in Real Estate; Litigation; Public Finance & Infrastructure; Labor & Employment; Environmental; Government Law & Policy; Restructuring & Bankruptcy; White Collar Defense & Investigations; Corporate; Institutional Banking & Investment Services; Investment Management & Regulation; Immigration & Compliance; Health Care & FDA; and Tax practices. The Philadelphia office represents a broad range of clients in real estate, manufacturing, health care, higher education, financial, and insurance industries, as well as state and local governments, professional services, and energy firms. The office also is known for its pro bono work and community service/social action initiatives in the Philadelphia region.
About Greenberg Traurig: Greenberg Traurig, LLP has more than 2750 attorneys in 47 locations in the United States, Europe and the Middle East, Latin America, and Asia. The firm is a 2022 BTI “Highly Recommended Law Firm” for superior client service and is consistently among the top firms on the Am Law Global 100 and NLJ 500. Greenberg Traurig is Mansfield Rule 6.0 Certified Plus by The Diversity Lab. The firm is recognized for powering its U.S. offices with 100% renewable energy as certified by the Center for Resource Solutions Green-e® Energy program and is a member of the U.S. EPA’s Green Power Partnership Program. The firm is known for its philanthropic giving, innovation, diversity, and pro bono. Web: www.gtlaw.com.