Lone Star PACE helped arrange $3.5 million in C-PACE financing for sustainable building renovations at Meadow Park Tower in Dallas County, Texas.
The 263,000-square-foot, 15-story, multitenant office building is located at 10440 N. Central Expressway in Dallas. The building was constructed in 1986 and renovated in 2016. A subsequent renovation began in 2022 and includes the installation of sustainable building components, including energy-efficient windows and walls, LED lighting, improved HVAC systems and low-flow plumbing.
C-PACE allows property owners to access low-cost, long-term financing for energy and water conservation systems at commercial buildings. Property owners can use C-PACE to finance new construction, building retrofits or recapitalizations.
Bayview PACE served as the capital provider for the project, which is estimated to reduce Bradford’s annual electricity consumption by 25%, its water consumption by 28% and its natural gas consumption by 42%.
Bradford MPT Partners has spent the last few years upgrading the building’s interior and adding a slew of top-tier amenities, including a new outdoor patio, tenant lounge, conference center, fitness center and putting green. These investments have resulted in a stabilized occupancy of 90%.
