Petros Completes its Seventh Privately Rated Securitization of Investment-Grade C-PACE Loans
C-PACE industry-leader continues frequent securitization to meet demand for quickly growing asset class and advance expansion of clean energy financing program
Feb 11, 2020, 11:23 ET
AUSTIN, Texas, Feb. 11, 2020 /PRNewswire/ -- Petros PACE Finance, LLC (www.petros-pace.com), the national leader in the Commercial Property Assessed Clean Energy (C-PACE) financing marketplace, announced today that it recently completed its seventh privately rated securitization on C-PACE assets from independent credit rating agency DBRS Morningstar.
This is the first rating on C-PACE assets under the new and recently released DBRS Morningstar rating methodology.
"These ratings are a testament to the strength of our underwriting platform and the growing importance of C-PACE as an asset class," said Petros PACE Finance Co-Founder and CFO Jim Stanislaus. "We are pleased with the new rating methodology for PACE assets from DBRS Morningstar. We are planning for continued exponential growth, so having a highly replicable, efficient process for completing these securitizations is critical."
Petros PACE Finance served as its own placement agent on the assets and as its own structuring agent on the rated transaction with DBRS Morningstar, using T-REX's software for the structuring and reporting along with a capital call line from ING.
"T-REX is committed to helping innovative firms pioneer complex areas of structured finance like C-PACE," said Scott Miller, CBDO of T-REX. "We're excited to help Petros deliver a clearer picture of opportunities for investors in this new market, as more firms incorporate a sustainability focus into their investing strategy."
The executives at Petros PACE Finance have deep expertise in structured finance and also direct relationships with a diverse mix of institutional investors that enables Petros to structure and complete transactions with the highest levels of efficiency.
About Petros PACE Finance
Petros PACE Finance, LLC is a leading financier of long-term capital for C-PACE. The principals of Petros PACE—Mansoor Ghori, Jim Stanislaus, and Tommy Deavenport—have executive level expertise in all critical aspects of C-PACE: Commercial lending, structured finance, debt fund management, and direct, long-term institutional investor relationships. Learn more at petros-pace.com.
About T-REX
T-REX has redefined how markets approach complex investments with a turn-key managed data service and SaaS platform for analytics, reporting and collaboration. With T-REX, market practitioners access a complete suite of tools and data to analyze, assess, and accurately price the risk associated with issuing and investing in alternative and private markets including structured credit and project finance. Learn more at www.trexgroup.com.
Contact:
Kylie Fitzpatrick
512-599-9042
kylie@petrospartners.com
SOURCE Petros PACE Finance, LLC
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