ÀÖ¾ºÌåÓýAPP

Oak Brook, Ill. â€� Inland Green Capital LLC (“Inland Green Capitalâ€�), an environmental finance and investment company, announced the closing and funding of a commercial Property Assessed Clean Energy (“PACEâ€�) transaction in Oak Brook, Illinois, a western suburb of Chicago. Inland Green Capital was selected to refinance $2.76 million in energy efficient improvements for the luxury hotel, ÀÖ¾ºÌåÓýAPP Drake Oak Brook, Autograph Collection (“ÀÖ¾ºÌåÓýAPP Drake Hotelâ€�), located at 2301 York Road in Oak Brook.

ÀÖ¾ºÌåÓýAPP funding, which closed in late August 2021, refinances new windows and building envelope elements, boilers, chillers, HVAC infrastructure improvements, water-conserving plumbing installations and LED lighting that were made from mid-2019 through mid-2021. ÀÖ¾ºÌåÓýAPP PACE project is expected to provide ÀÖ¾ºÌåÓýAPP Drake Hotel with approximately $1 million in savings over the 25-year financing term and lifetime energy savings of nearly 5.2 million kilowatt hours of electric, 340,000 therms of natural gas and more than 24 million gallons of water.

"Inland Green Capital allowed us to achieve our goal of taking a 60-year-old property and converting it to a much more high-efficiency, green hotel,â€� said Jim Nagle, owner of ÀÖ¾ºÌåÓýAPP Drake Oak Brook. 

Inland Green Capital specializes in C-PACE financings for PACE project initiatives throughout the country.

“ÀÖ¾ºÌåÓýAPP renovation of ÀÖ¾ºÌåÓýAPP Drake Hotel will result in a comprehensive energy efficiency upgrade that modernizes this landmark destination and should reduce utility expenses,â€� said Anna Maria Kowalik, senior vice president â€� director of business development for Inland Green Capital. “We are thrilled to be part of this transaction in Oak Brook and look forward to many more Illinois-based PACE projects in the future.â€�

PACE is an innovative financing tool that provides long-term, fixed-rate funding to private building owners for energy efficiency, renewable energy, water conservation, electric vehicle charging and resiliency projects to be installed in both existing or new commercial properties. To date, the PACE program has provided financing for over 2,500 commercial projects, totaling $2 billion in funding and has created nearly 22,400 jobs nationwide.*

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About Inland Green Capital LLC
Inland Green Capital LLC is an environmental finance and investment company that provides capital for energy efficiency solutions for property owners using PACE and other funding tools throughout the country. Established in 2012, Inland Green Capital is a member of ÀÖ¾ºÌåÓýAPP Inland Real Estate Group of Companies, Inc., one of the nation’s largest commercial real estate and finance groups. For more information about Inland Green Capital, please refer to the company website at .

*Source: PACE Nation