Financing Office Redevelopment with Long-Term C-PACE Support
A Benchmarking
Buildings Case Study
Gaslight Square
To reposition and expand the historic Gaslight Square office complex in Baltimore, Equity Warehouse partnered with MD Energy Advisors to secure a $1.55 million C-PACE loan. With 36 months of interest reserve and a 25-year amortization, the financing enabled capital improvements—including roofing, windows, and building envelope upgrades—while supporting project stabilization and long-term ownership retention.
Opportunity
Ian Horowitz, Managing Member of EquityWarehouse, was looking to efficiently, acquire, add to, and upgrade Gas LightSquare in Baltimore, MD. The office complex features 50,000 SF of rentable space and Horowitz is going to add an additional 30,000 SF. C-PACE eligible improvements included plumbing, roof, windows and building envelope.
Our Solution
Our Energy Advisors structured a $1,550,000 CPACE loan that included 36 months of interest reserve to allow the project to reach stabilization after the reposition.The term was for 25 years and featured a 25 year amortization.The interest rate was below 6%.
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