BOULDER, Colorado (Oct. 4, 2021) – Imperial Ridge Real Estate Capital, a national private commercial real estate capital provider based in Colorado, today announced the firm has provided commercial property-assessed clean energy (C-PACE) financing to REI Keyholder Ltd. for a 10,000-square-foot adaptive reuse project located at 200 S. Pikes Peak Ave. in downtown Florence, Colorado.

“At Imperial Ridge, we work to provide creative, customized financing solutions for our clients – from the biggest C-PACE deals in Colorado to adaptive reuse projects such as this one that reflect our commitment to building stronger, more resilient communities,” said Mark Boyer, President and CEO of Imperial Ridge Real Estate Capital. “This project represented a unique opportunity for us to support local economic development alongside a client with whom we’ve developed a strong working relationship.”

Using the C-PACE funding, REI Keyholder Ltd. will update the historic property with multiple sustainability features, including on-site solar panels, designed to improve the building’s energy efficiency. Prominently located on the corner of Front Street and Pikes Peak Avenue, the property is currently home to several commercial tenants on the first floor, including Florence Brewing Company and a local non-profit, Special Forces Motorcycle Club. The second floor of the historic building will be converted into one-bedroom and studio apartments.

“Imperial Ridge’s financing was essential to setting this historic building up for the future,” said Byron Elliott, Chief Vision Officer for REI Keyholder Ltd. “This project will meaningfully add to the fabric of downtown Florence, and we look forward to getting started on improvements in the coming weeks.”

Renovations to the building are estimated for completion in the spring of 2022.

Imperial Ridge acts as a single source for a mix of commercial real estate financing solutions. Working with clients in the commercial real estate industry nationwide, the firm customizes the capital stack for each project to maximize asset value while enhancing the quality of the built environment. To date, 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 Imperial Ridge, please visit www.imperialridgecap.com.