Hannon Armstrong Announces New Partnership for Commercial Property Assessed Clean Energy (C-PACE) Projects
Hannon Armstrong Sustainable Infrastructure Capital, Inc. (“Hannon Armstrong,” or the “Company”) (NYSE: HASI), a leading investor in the efficiency, wind and solar markets, is pleased to announce that CounterPointe Sustainable Real Estate LLC (“CSRE”) and Hannon Armstrong will work jointly on Commercial Property Assessed Clean Energy (C-PACE) opportunities. CSRE is the C-PACE focused affiliate of CounterPointe Energy Solutions LLC (CounterPointe) a PACE Program Administrator responsible for residential and commercial PACE programs in CA, FL and NJ.
“As we’ve said for the last several years, we believe that profitably scaling C-PACE requires new approaches and new partners. We are delighted to be partnering with the experienced team at CounterPointe, which will allow us to capture more of the growing C-PACE market,” said Hannon Armstrong President & CEO Jeffrey Eckel. “This strategic alliance will enable us to expand programmatic C-PACE transactions across the U.S., putting capital to work in upgrading infrastructure in the built environment that simultaneously creates jobs and reduces a building’s carbon footprint.”
The partnership will combine Hannon Armstrong’s deep experience and relationship base in the efficiency and renewable energy markets with CounterPointe’s PACE relationships and comprehensive knowledge of commercial real estate finance. Eric J. Alini, founder and CEO of CounterPointe, is the Managing Partner of CSRE. Mr. Alini has extensive experience in commercial real estate and tax lien asset management. Previously, Mr. Alini was the founder of CounterPointe Capital Management LLC, a tax lien asset manager and servicer that managed over $240 million in tax lien assets. He also was a Managing Director in the Global Structured Finance and Investment Group of Merrill Lynch with responsibility for the Principal Finance Group, focusing on $2.5 billion of alternative equity/mezzanine principal investments and $18 billion of senior warehouse financings for Merrill Lynch. Mr. Alini previously held a number of senior commercial real estate positions at Merrill Lynch, including head of Global CMBS trading and origination, head of CMBS Principal Transactions and conduits in the United States, Canada, Europe and Japan as well as the head of Corporate Loan Portfolio Management.
Available in 32 states, plus D.C., the C-PACE financing structure enables owners of commercial, industrial, and multifamily properties to obtain low-cost, long-term financing for energy efficiency, water conservation and renewable energy projects. Real estate owners can benefit from an immediate increase in cash flows and building value by reducing energy costs while financing 100% of the retrofit.