Upgrades expected to reduce utility consumption while generating on-site renewable energy
FLOWER MOUND, Texas, Aug. 12, 2026 (GLOBE NEWSWIRE) — PACE Equity Finance, a direct balance-sheet Commercial Property Assessed Clean Energy (C-PACE) lender, along with Lone Star PACE, a foremost administrator of the Texas PACE Program, today announced the closing of $1.7 million in C-PACE financing for the renovation of Center Place I, a 40,000-square-foot multi-tenant medical office property located at 3101 Churchill Drive in Flower Mound, Texas.
C-PACE funds will support a comprehensive package of energy efficiency, water conservation and renewable energy improvements, including high-efficiency HVAC systems, lighting and electrical improvements, domestic hot water systems, plumbing upgrades, and the installation of a solar-covered carport.
The upgrades are projected to reduce annual energy and water consumption by 6% and 3%, respectively, while generating approximately 176,070 kilowatt hours of renewable energy each year.
Bert Belanger, Originations Leader at PACE Equity Finance said: “C-PACE was a great fit for Center Place I, serving as an ideal debt capital solution for the tenant improvements and solar, supporting high-value medical office space. The financing was executed through close collaboration with the senior lender, the contractors and Lone Star PACE. It’s the partnership our clients count on, and why this sponsor continues to choose PACE Equity Finance.”
Center Place I is the latest example of how C-PACE can help property owners modernize building assets while preserving capital for other needs. The transaction also marks the second collaboration between PACE Equity Finance and Lone Star PACE on a Texas medical office project, following the C-PACE transaction for Independence Medical Center renovations in Plano.
Demand for medical office space has remained strong across Texas, driven by continued population growth and a broader shift toward outpatient care delivery. As healthcare providers deliver modern, efficient facilities closer to where patients live and work, C-PACE offers a cost-effective solution for funding property improvements that enhance building performance and tenant experience.
Lee McCormick, President of Lone Star PACE, said: “Texas continues to experience extraordinary population growth, and healthcare providers are working to expand access to care in communities across the state. Medical office properties are increasingly critical infrastructure, and C-PACE provides owners with long-term, low-cost capital to complete building improvements that might otherwise be delayed or scaled back. We’re proud to partner with PACE Equity Finance once again to help bring these upgrades to fruition.”
C-PACE provides long-term, fixed-rate financing for energy efficiency, water conservation, and renewable energy improvements. Repayment is secured through a voluntary assessment on the property, and financing can be utilized before, during, or after construction.
To learn more about how C-PACE can support your development project, visit www.pace-equity.com and www.lonestarpace.com.
About PACE Equity Finance
PACE Equity Finance is a direct balance-sheet C-PACE lender delivering structured, institutional-grade capital solutions for commercial real estate developers and lenders, with certainty of execution and flexible capital stack integration. The firm has funded more than $1 billion in C-PACE financing across 200+ transactions. Our delivery is built on four foundational pillars: execution certainty, structuring sophistication, tailored solutions, and turnkey delivery. Learn more at www.pace-equity.com.
About Lone Star PACE
Lone Star PACE serves as a program administrator for city and county Commercial Property Assessed Clean Energy (C-PACE) programs throughout Texas. The company helps local governments, economic development organizations, property owners and capital providers facilitate projects that promote economic development, resource conservation and long-term property value enhancement. For more information, visit www.lonestarpace.com.
Media Contacts
PACE Equity Finance
Lexi Dehmer
Marketing Manager
ldehmer@pace-equity.com
320-828-3022
Lone Star PACE
Olivia Lueckemeyer
Director of Marketing & Media Relations
Olivia@LoneStarPACE.com
