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 that has earned LEED Silver certification and won numerous awards.
Christopher Hoeffel, President & COO of Counterpointe commented on this project: “This exemplifies how commercial PACE can be used to finance green renovations; our company is focused on climate change’s convergence with real estate – The Four Seasons Private Residences project showcases how green financing can enhance urban landscapes.”
