Optimizing Capital and Efficiency for Baltimore’s First Heavy Timber Office Building
A Benchmarking
Buildings Case Study
4010 Boston Street
To support the development of Baltimore’s first heavy timber office building, 28 Walker partnered with MD Energy Advisors to reduce equity requirements and improve returns. A $2.5 million C-PACE loan financed high-performance envelope components and specialty HVAC systems—enhancing energy efficiency, air quality, and capital stack optimization.
Opportunity
Scott Slosson, Chief Operating Officer of 28Walker, was looking to develop the first heavy timber office building in Baltimore. With the rising construction costs, supply chain, and rampant inflation Slosson was looking to reduce his weighted average cost of capital in an effort to maintain project returns.
Our Solution
MD Energy Advisors structured a $2,500,000CPACE loan that will optimize the capital stack and will be used to finance sections of the building envelope that contribute to its energy efficiency such as the windows, façade assembly, and exterior skin. A portion will also be used for the specialty HVAC systems engineered to improve air quality and stimulate outdoor airflow.
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