Starwood Sustainable Credit, a newly launched affiliate of Starwood Capital Group, has committed $500 million to CleanFund, an affiliate of Commercial Property Assessed Clean Energy (C-PACE) origination platform.
The investment will support the adoption of clean energy and other value-added improvements to commercial properties nationwide. In addition, entities affiliated with Vulcan Capital have made a follow-on investment in CleanFund, atop their investment in 2017.
“CleanFund has been the leader in taking C-PACE to nearly $1 billion in total funding since inception of this innovative tool, and our aim is to extend that severalfold as more property owners learn about the advantages of C-PACE,” said Lain Gutierrez, who recently appointed CleanFund CEO. He is a banking and structured-finance executive with more than 28 y
