Lever Finances Rooftop Solar System for Condominium Building
Denver, CO – Denver’s River North (RiNo) Art District has added another building powered by solar energy to its inventory. Lever Energy Capital has provided C-PACE financing for a roof mounted solar PV system upon an office, retail, and residential condominium project owned by Urban Green Development. Both Lever Energy Capital and Urban Green Development are Denver-based real estate companies improving the city’s building supply with an eye towards sustainability as well as profitability.
“Whether it be pressure from the market or social mandates of investor equity, the future of commercial real estate is moving toward sustainability,” said Joel Poppert, Senior Vice President of Lever Energy Capital. “We are leveraging our capital to find accretive ways to bridge the gap between sustainability and return on investment for our real estate clients and we are excited to have done just that for yet another client, right here in our backyard.”
Urban Green Development employed Lever’s accretive C-PACE financing to fund the installation of the solar PV array, which will be repaid through low-cost, long-term, fixed-rate property tax assessments on the property. Generating savings and income that will outweigh annual financing payment, the solar system will essentially pay for itself immediately increasing the building’s value by as much as $500,000 and more over time.
“Our goal is to make a long-term difference in the community, the environment, and the lives of the people we work with,” said Nathan Sandberg, a project developer with Urban Green Development. “Over time, we’ll save close to a million dollars in energy costs as a result of this project – all while reducing our carbon footprint.”
About Lever Energy Capital
Lever Energy Capital is a Denver-based Commercial Property Assessed Clean Energy (C-PACE) financier. They help commercial real estate owners optimize their assets and improve their bottom line through low-cost Commercial Property Assessed Clean Energy (C-PACE) financing. Among largest C-PACE funds in the industry, Lever efficiently sources and funds deals wherever C-PACE programs exits. To learn more about Lever Energy Capital, visit their website at https://www.leverenergycapital.com/.
About Urban Green Development
Urban Green Development is a consciously aligned team of real estate developers, social entrepreneurs, and financiers, united by their belief that business has a responsibility to actively affect positive change in the communities in which they operate. The company creates, designs, and develops smart, environmentally responsible real estate projects. To learn more about Urban Green Development, visit their website at https://www.urbangreendevelopments.com/.