share
tweetLafayette, CO—Colorado C-PACE announced today that Centum Health Properties (CHP) will use C-PACE financing to renovate its building at 11990 Grant Street in Northglenn, CO.
CHP, a full-service real estate firm that partners with medical practices throughout Colorado to provide outstanding healthcare facilities, will install multiple energy-efficiency improvements throughout the 91,471 sq. ft. building. The improvements include energy efficient HVAC equipment and LED lighting, all of which are projected to save Centum just under $1,000,000 over the life of the equipment. Project design and engineering was provided by Galloway & Company. Integro provided owner representation services, including project development and project management.
Bellco Credit Union, one of the largest credit unions in Colorado, provided financing for the project. Susan Rice, Senior Director of Business Services at Bellco, said, “This is our fourth C-PACE project. Once again, we are impressed with how well these projects come together. We were able to offer CHP a low-rate, long-term loan, allowing them to make energy-efficiency improvements that will, over the life of the project, reduce greenhouse gas emissions by over 3,558 tons, a significant benefit to our customer and our community.”
About Colorado C-PACE
A program of the New Energy Improvement District (NEID) administered by Sustainable Real Estate Solutions, Colorado C-PACE facilitates financing for energy and water improvements in new and existing commercial buildings, including new heating/cooling systems, lighting, water pumps, insulation, and renewable energy projects. C-PACE offers long-term financing that covers 100 percent of the project cost and is repaid over a period of up to 25 years. The payments are structured as a regular line item on the property tax bill. When a property is sold, the C-PACE assessment can stay with the property and transfer to the new owner, who enjoys the ongoing utility cost savings associated with the project.
About SRS
Sustainable Real Estate Solutions (SRS) partners with state and local governments to administer commercial property assessed clean energy (C-PACE) programs. Founded in 2010 by experienced commercial real estate and energy efficiency professionals, the company’s proprietary technology-enabled PACEworx™ Platform streamlines the management of the data-intensive C-PACE technical and financial underwriting process. SRS’s Investor Confidence Project-credentialed quality assurance methodology has facilitated more than $180 million in C-PACE financing nationwide—a level unmatched in the industry. SRS empowers C-PACE public-private partnerships across the country. The company is based in Trumbull, Connecticut.