Imperial Ridge Renewables will help CRE owners reduce capital while adding renewable energy to properties, starting with solar covered parking program
BOULDER, Colo., February 1, 2023 /PRNewswire/ — Imperial Ridge Real Estate Capital, a national, private commercial real estate capital provider based in Coloradotoday announced the launch of Imperial Ridge Renewables (IR Renewables), a financing and development arm dedicated to helping commercial property owners add renewable energy to their assets without upfront capital.
“Working with Imperial Ridge Renewables is about much more than realizing energy cost savings down the road,” said Mark Boyer, President and CEO of Imperial Ridge Real Estate Capital. “With the cost of construction and development at the moment, every opportunity to minimize costs without impacting your NOI is valuable. We offer immediate savings, helping commercial property owners eliminate line items, such as carports, while also providing lasting add value to their development.”
With its flagship Solar Covered Parking Program, IR Renewables will work with property owners to add covered parking to their assets without carrying the heavy capital expenditures on their balance sheet. The program offers owners the opportunity to provide an additional benefit to tenants, comply with zoning requirements and potentially create a new revenue stream by earning new, shaded parking spaces.
“We understand the need to ensure our built environment is powered by more resilient energy sources, as well as the realities facing developers and owners in today’s economy,” Boyer added. “Our team brings the knowledge and experience to help owners maximize asset value while improving the quality and sustainability of their developments. This model ensures that owners can provide clean energy to their tenants through the additional solar panel technology without managing it themselves. “
The IR Renewables team brings expertise in renewable energy, commercial property development and lending. IR Renewables will self-finance projects across the country up to $5 million or 5MW, making them an ideal partner for a variety of multifamily, hospitality, office and life sciences properties that require on-site covered parking facilities.
Imperial Ridge Real Estate Capital, the parent company of IR Renewables, 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 adjusts 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 debt, in combination with C-PACE, across eight states covering every major asset class.
In addition to its Solar Covered Parking Program, IR Renewables will use its self-financing capabilities to support property owners looking to add traditional rooftop solar and other forms of renewable energy. To learn more about opportunities to work with IR Renewables, please visit www.imperialridgecap.com/renewables.
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 range 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 nationwide. Imperial Ridge provides combined mortgage loan products designed to meet the unique needs of each transaction and to better address an ever-changing market. To learn more, please visit www.imperialridgecap.com.
SOURCE Imperial Ridge