Ovus Partners 360 designs and installs net-zero energy platforms for commercial real estate projects. Net-zero is defined as a building or development that produces as much energy as it uses in a single calendar year.
PACE (Property Assessed Clean Energy) is an innovative financing approach that provides 100% of energy-related improvement costs, repaid through a long-term property tax assessment.
Ovus Partners 360 and PACE have formed a collaboration that brings unique benefits to a retrofit or a ground-up development – perfectly balancing client financial needs with environmental consciousness.
Design and installation of Ovus Partners 360 projects is site specific, but the overall methodology remains consistent:
Initially, the planned or existing electrical demand is reduced to a bare minimum through aggressive conservation measures. Then, the remaining power void is filled by a custom blend of carbon-free renewable energy elements. A state-of-the-art HVAC system is generally included.
As the design of a platform is realized, a structured financing process is concurrently created with PACE to manage transaction expenses and execution risk. PACE covers up to 20% of the finished value of the project.
Other benefits of PACE include:
- Long Term (up to 20 years) low-cost capital
- Can be considered as equity in a capital stack
- Reduced debt ratios
- Off balance sheet in most cases
- Transfers upon sale as assessment remains with land
- No acceleration upon transfer of ownership or default
- Flexible pre-payment options
- Seismic related structural elements can be included
- Ability to pass through to tenants or hotel guests
- No personal guarantees
There are no out-of-pocket costs to Ovus Partners 360 clients. The reduction in operating costs generated by Ovus Partners 360 platforms bolsters the Net Operating Income (NOI) of a property.
Return on Investment (ROI) is increased through PACE financing as higher returns are produced with less equity.
Overall asset value is significantly elevated. Carbon emissions are completely eliminated.
New solutions and opportunities, in symmetry.