PACE Loan Group Receives Corporate Investment from CarVal Investors

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MINNEAPOLIS, Nov. 17, 2021 /PRNewswire/ — PACE Loan Group (PLG), a national leader in the Commercial Property Assessed Clean Energy (C-PACE) marketplace, announced the closing of a corporate investment from funds managed by CarVal Investors. CarVal and PLG’s partnership will also extend to other capacities, including working together on large balance PACE loans.

“Commercial real estate credit and renewable energy are two industries CarVal knows well,” said Jerry Keefe, a principal at CarVal Investors. “C-PACE is at the intersection of these investment strategies and provides a financing structure that fits well in our portfolio. PLG is an established and experienced direct PACE lender nationwide and we are pleased to partner with them.”

Founded in 2017, PLG is led by career financial and commercial real estate professionals committed to providing PACE as an easy addition to developers’ capital stacks for new construction and renovation projects. Rafi Golberstein, co-founder and CEO commented, “this is an excellent partnership; CarVal’s investment furthers PLG’s ability to grow and continue to execute large-scale financing deals, while bolstering our position in the C-PACE marketplace nationwide.”

Commercial developers and property owners can utilize C-PACE to obtain low-cost, long-term financing for sustainable building improvements. C-PACE is an attractive financing option, utilizing borrowed capital to pay for the upfront costs associated with energy efficiency or renewable energy improvements. But unlike other project financing options, the borrowed capital is repaid over a 20–30-year period via tax assessments. According to PACENation, upwards of 2,500 commercial projects have been funded by PACE loans, with an investment topping $2 billion. Today, more than 37 states have adopted PACE-enabling legislation and policy due to the opportunity to improve building sustainability, with further legislation in the works nationwide.

About PACE Loan Group
PACE Loan Group (PLG) is a national leader in the C-PACE marketplace, providing direct C-PACE financing to commercial property owners for energy-efficiency, renewable energy, water conservation, and seismic projects. The PLG team has decades of experience in commercial lending and structured finance, providing expertise up and down the capital stack. To learn more about PLG, visit our website at

About CarVal Investors
CarVal Investors is a leading global alternative investment fund manager. Since 1987, CarVal has invested $131 billion in 5,580 transactions across 82 countries. CarVal has a long history of successful energy and power investments and is an innovator in structuring partnerships in the renewables industry. For more information, visit

Contact: Rafi Golberstein

Phone: 612.355.2606

Email: [email protected]

SOURCE CarVal Investors; PACE Loan Group