Dwight Capital Launches C-PACE Lending Platform

“I am thrilled to join the Dwight team and contribute to offering our clients access to a cost-effective, long-term financing solution to enhance their capital structure,” Nordel said in a statement. “As the demand for clean energy and sustainable buildings grows, C-PACE financing has been increasingly embraced by property owners across diverse asset categories.”

Nordel added that Dwight Green Finance “seamlessly complements” the firm’s other various lending products that include construction and bridge loans along with debt deals backed by the U.S. Department of Housing and Urban Development (HUD). 

The C-PACE group is the latest chapter in Dwight’s expansion since it was founded by brothers Josh Sasouness and Adam Sasouness in 2014. It started with a focus on HUD multifamily deals then advanced its HUD health care transaction activity in 2016. Dwight later launched an affiliated private real estate investment trust called Dwight Mortgage Trust in 2018, which seeks bridge loan opportunities across various property sectors.

And its expansion into C-PACE loans comes as the market hit a record high last year. The financing vehicle, which is paid back through property tax assessments over a loan period of up to 30 years, enables commercial property owners to borrow debt in exchange for certain energy-efficiency or sustainability building improvements. 

Thirty-eight states and the District of Columbia have passed laws in recent years enabling C-PACE financings, according to data from the nonprofit association PACENation. 

At Peachtree Group (previously known as Stonehill), Nordel was a senior vice president in the lender’s C-PACE division, where she oversaw more than $850 million of lending volume, according to Dwight. She previously was a vice president leading originations across Peachtree’s debt fund platforms. 

Andrew Coen can be reached at acoen@commercialobserver.com.