CounterpointeSRE, a subsidiary of Counterpointe Sustainable Advisors, recently closed $255.9 million in PACE financing for the adaptive reuse of the historic Aronson Building into the Four Seasons Private Residences in San Francisco. This transaction is reportedly the largest PACE financing ever completed and marks a new phase in green financing for institutional quality commercial real estate.
The office-to-multifamily condominium conversion included significant energy efficiency upgrades and resiliency measures such as a rooftop stormwater recycling system which has earned LEED Silver certification and numerous awards.
Christopher Hoeffel, President & COO of Counterpointe commented on this project: “This exemplifies how commercial PACE can be used to fund green renovations that enhance urban landscapes.” He continued “Our company is focused on climate change’s impact on real estate; The Four Seasons Private Residences project demonstrates how green financing can be utilized effectively.”
