Скачать или смотреть How PACE Financing Revived The Stella: $16M Deal Transforms Vacant St. Paul Office Tower

When St. Paul’s former Ecolab University Tower sat vacant, traditional lenders backed away from financing its conversion. Enter PACE Loan Group (PLG). Stepping in with a $16 million C-PACE loan that filled a critical gap in the capital stack, PLG made the redevelopment possible.

In this case study, developers and PLG leaders break down how The Stella project came together from navigating historic tax credits and construction delays to closing during a period of financial uncertainty.

Hear from:

Carl Keating (Developer, Kaeding Group) on how PACE replaced a “partner bank” and simplified a complex cap stack.

Matt McCormack (SVP, PLG) on structuring a $16M C-PACE loan that exceeded the senior lender’s hold.

Learn how PACE financing brought reliability, speed, and certainty to one of Minnesota’s most challenging adaptive reuse projects.

Topics Covered:

How PACE financing fills capital gaps in complex redevelopments

Why traditional lenders struggle with adaptive reuse and conversions

The Stella’s $68M total capitalization and $16M PACE portion

Historic tax credits, opportunity zones, and closing timelines