Imperial Ridge Real Estate Capital Sets C-PACE Financing Record with Boulder Development

“Imperial Ridge is proud to have provided the C-PACE capital for this record-setting development,” said Mark Boyer, President and CEO of Imperial Ridge Real Estate Capital. “This was a highly complex project to execute, but from start to finish, it was a pleasure working with the Mapleton Hill Investments team. This is a great example of how C-PACE funding can play an accretive role in our communities as we strive to create a better, more sustainable built environment.”

Located in one of Boulder’s most desirable neighborhoods, the new 331,000-square-foot Academy Mapleton Hill Residences will offer a customized approach to continuing care, with a variety of tailored services and unique amenities.

The project will include 92 limited-edition independent living residences with curated amenities in an extraordinary urban infill setting. Additional facilities on the development include an underground parking garage, short-term rehabilitation center and memory care facility, dining halls, a pool/spa, as well as a chapel. Importantly, with the C-PACE funding, the development team was able to optimize the design to exceed the International Energy Conservation Code by more the 30%.

“Working with Imperial Ridge to secure C-PACE financing for this project allowed us to achieve the appropriate leverage levels while focusing on quality and sustainability in a way that will serve both our residents and the greater Boulder community for years to come,” said Don Altman, a member of Mapleton Hill Investments. “We’re grateful to the team at Imperial Ridge for their partnership and look forward to bringing this project to life.”  

Using C-PACE financing on projects can reduce the need for conventional debt, equity and/or capital expenditure reserves to obtain a balanced capital stack at a lower weighted average cost of capital while at the same time creating a more efficient built environment.

Denver-based Energetics Consulting Engineers provided energy analysis and modeling on the design for Academy Mapleton Hill. Clean Energy Council, LLC provided legal counsel. Construction will be managed by AGR Building, Inc., in partnership with Saunders Construction.

Imperial Ridge Real Estate Capital acts as a single source for a full suite of commercial real estate debt products, including C-PACE, with the goal of maximizing the value of assets for commercial real estate owners, developers and asset managers throughout the U.S. Leveraging a unique combination of lending solutions, the firm has placed over $300 million of primary debt, in combination with C-PACE, across eight states covering every major asset class. To learn more about the company’s offerings, please visit: www.imperialridgecap.com.

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About Imperial Ridge Real Estate Capital

Imperial Ridge Real Estate Capital is a private commercial real estate capital provider based in Colorado. The firm acts as a single source for a full suite of commercial real estate debt products including C-PACE all designed to maximize the value of assets for commercial real estate owners, developers and asset managers throughout the United States. Imperial Ridge is able to provide combined mortgage loan products aimed at meeting the unique needs of each transaction and better addressing an ever-changing marketplace. Guided by the principal that every day, we must find a way to provide value to our clients, Imperial Ridge’s expert team, with proven execution, provides tailored solutions for each transaction. To learn more, please visit www.imperialridgecap.com.