First PACE Financing in Nebraska Closes in June 2018

PACE-Sage-Capital-Logov2PACE Sage Capital announces the first PACE financing in Nebraska that closed in June 2018.

$3.4 Million of PACE funds are being contributed to the conversion of a 105-year old iconic office building to the “Hotel Peregrine” by Curio boutique hotel, which is projected to be completed in the spring of 2019.

“We were intimately involved in the transaction, including capital sourcing and deal structuring, energy engineering, assisting the City of Omaha with its first PACE application and assisting the developers with the whole PACE process”, said Rob Shear, CEO of PACE Sage Capital, the PACE origination company who brought PACE financing to Nebraska.

“The Hotel Peregrine is the first of a building pipeline of projects that have circled PACE in their capital stack”, said Shear.  “We expect the market in Nebraska to be robust and very accepting of PACE as an effective tool for retrofits, upgrades, conversions/rehabs and ground up commercial building projects, both prospectively and retroactively”.

Here are articles from the Omaha World-Herald and the Energy News Network that describe the Hotel Peregrine PACE project in Nebraska.

First Look: Peregrine boutique hotel at 18th and Douglas is partly financed by new clean energy program

Omaha hotel is first project financed with Nebraska’s PACE legislation

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