C-PACE Financing
Loan Type
23 Years

The Laurels of Lake Orion

Oakland County, Michigan

The Laurels of Lake Orion Township is Oakland County, Michigan’s first C-PACE project. The $2.14MM C-PACE financing supported a competitive, innovative, long-term capital solution for a 60-unit assisted living and memory care facility.

The Opportunity

The borrower’s goal was to utilize C-PACE financing to bolster their capital stack during the stabilization of their assisted living/memory care facility. The current economic climate has resulted in difficult lending parameters and lengthy stabilization periods and in an industry with strict licensing standards and a unique client base, the borrower was seeking an efficient, long-term lending structure to help accomplish its goals.

The Solution

CastleGreen Finance, in conjunction with the Lean & Green Michigan C-PACE program, partnered with the development team of The Laurels and EE Consultants to demonstrate that the facility was designed to achieve a high standard of energy efficiency through a combination of building envelope, windows, HVAC, plumbing and lighting. The design and installation of the upgrades will lower energy costs, create significant operational savings, and support a sustainable and comfortable environment for future residents.

The Companies

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