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C-PACE
The practice, formerly a niche financing strategy to upgrade properties, is set to become a driving force in ESG lending.
Opportunities in multifamily, healthcare and new development create more potential in capital stack.
The $103 million financing will spur about $40 million of cashflow savings over the next 10 years.
The program will originate loans of $1m to $20m.
The $1.2trn manager sees C-PACE financing on the rise.