Why Eyzenber GreenCap
Eyzenberg GreenCap is a partnership between Eyzenberg & Company (“Eyzenberg”) and Greenworks Lending (“Greenworks”) uniquely dedicated to funding commercial real estate transactions through C-PACE.
Commercial Property Assessed Clean Energy (“C-PACE”) is an innovative financing mechanism of low-cost, long-term non-recourse capital for new construction or gut rehabs of commercial real estate. C-PACE is used to finance 100% of eligible hard and soft costs for a project (approximately 20-25% of total development budget) and secured by a special assessment against the property. Repayment of the assessment financing is done via the building owner’s property tax bill with payments due concurrent with ordinary property tax payments.
Eyzenberg GreenCap is a partnership between Eyzenberg & Company (“Eyzenberg”) and Greenworks Lending (“Greenworks”) uniquely dedicated to funding commercial real estate transactions through C-PACE.
Greenworks is the largest C-PACE capital provider having funded the most projects in the country. Its founders launched and lead the first successful C-PACE program and have since closed over 250 projects across 15 states.
Eyzenberg is the market leader for “full spectrum” innovative capital solutions for CRE projects in the US. As a member firm of the Real Estate Capital Alliance ($14B capital placement since 2018) we are uniquely positioned to obtain all requisite lender consents as well as structure and arrange all other monies necessary to fully capitalize your project in tandem with C-PACE.
Greenworks has set-up and advised on the structure of over a dozen state programs including the very first one in CT. Due to the varied nuances of individual programs at the local level, leading edge and experienced polity expertise is a necessity to get C-PACE deals processed and closed.
Eyzenberg GreenCap accesses the direct balance sheet of a top financial institution. With permanent capital and multiple funding outlets Eyzenberg GreenCap has the markets lowest cost of capital for C-PACE financing.
A national lender, Eyzenberg GreenCap provides C-PACE financing in 31 States and the District of Columbia. States include: AK, CA, CO, CT, DE, FL, HI, IL, KY, MA, MD, ME, MI, MN, MO, MT, NE, NJ, NM, NV, NY, OH, OK, OR, PA, RI, TN, TX, UT, VA, WA, WI & D.C.
Seth Schumer joined Eyzenberg & Company as a Managing Director. His primary focus is transaction management and structuring advisory for commercial real estate finance transactions.
Prior to joining the firm, Schumer served as Head of US Investments for Quadrum Global (formerly Cube Capital) where he grew platform from one US hotel investment to an 18-asset mixed use portfolio through new acquisitions, ground-up developments, team building and creation of three internal operating platforms (Tesseract Investment Advisors, Arlo Hotel Management and Quadrum Senior Living Management). While at Quadrum, Schumer acquired, capitalized and asset managed a hotel portfolio that includes Arlo SoHo, Arlo NoMad, Nautilus South Beach, The Godfrey Hotel Chicago, Essex Inn Chicago, and B Resort & Spa at Walt Disney World, and led the efforts to create an in-house hotel management platform and the new Arlo Hotel brand. He additionally led the efforts to develop a senior housing property and the Amavida brand.
His expertise in debt financing including loan underwriting, servicing and borrower relations was learned while working in London for ABN AMRO, and in New York for Chase Manhattan Bank and Chemical Bank. Whilst at AIG Global Real Estate and Real Estate Capital Partners (now CP Capital), he additionally gained asset management, development insight and JV equity structuring experience. Also, during his time at AIG, Seth was part of team that acquired four RTC loan portfolios.
Schumer holds a master’s degree in real estate investment and development from New York University and a bachelor’s degree in accounting from the University of Maryland.
sschumer@eyzenberg.com
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