How CPACE Financing Offers Long-Term Capital in a Rising-Rate Commercial Real Estate Market

New Green Capital CEO Alli Kulie explains how CPACE (Commercial Property Assessed Clean Energy) financing works and why long-term, fixed-rate capital is drawing interest from both borrowers and institutional investors as interest rates rise and commercial real estate faces a trillion-dollar maturity wall.

■ How CPACE Works
- Definition of CPACE and the special assessment district mechanism on a property
- Eligible measures such as energy efficiency, climate resilience, and clean energy
- Why the assessment runs with the land through sales, foreclosure, or bankruptcy
- Participants: building owners, life insurers, and other institutional investors

■ Growth and Market Position
- Growth in assets under management since the company was acquired
- Expansion across states, headcount, and share of the CMBS market

■ Interest Rates and the Maturity Wall
- Refinancing pressure: shrinking loan proceeds and falling values
- Long-term financing as a risk mitigation tool for borrowers
- Property sectors served, with data centers noted as outside the core focus

■ Career and Leadership
- Career path from climate-focused public service to founding the company
- Leadership approach built on psychological safety and knowing the team
- Balancing work and family while operating within a larger organization

Commercial real estate investors, lenders, and professionals in climate or infrastructure finance will gain a clear picture of how CPACE functions as a financing tool, what drives demand for long-term capital in the current rate environment, and how one firm scaled within the sector.