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Figtree Financing Issues Third Bond

San Diego, CA (PRWEB) October 23, 2013

Figtree Financing, a leading provider of Property Assessed Clean Energy (PACE) financing, issued its third bond bond on October 22, 2013. This issue comes just over 3 months after having funded improvements to 7 California properties in a prior bond issue. The latest bond, with a value of $478,100, includes 4 projects in the cities of Chico, Bakersfield, and Palm Springs, bringing the total value of commercial PACE projects financed by Figtree to over $2 million.

This bond funded solar and cool roof improvements to two retail shopping facilities, a commercial warehouse, and a hotel. Ryan Ahearn, VP of Marketing for Figtree Financing, highlighted that “this bond issue is proof that we are seeing increased demand for commercial PACE financing from a variety of property types and that Figtree is now able to fund projects much more quickly than in the past.”

PACE’s unique financing enables a variety of improvements, particularly those that have a long useful life and benefit from a long-term amortization like solar, HVAC and cool roofing. “The solar project utilizing PACE financing in Chico is worth an estimated $140,000 to the property owner with no money down. Over time, the annual energy savings are projected to exceed the amount of the PACE payment,” stated Paul Sullivan, Sales Manager for Alternative Energy Systems, the contractor for this project. “Energy savings, rebates, and tax incentives also help to make solar projects cash flow and net present value positive from the onset. We expect to see a growing number of projects financed with Figtree PACE in the coming year,” added Sullivan. Read more.