MIAMI — Counterpointe Sustainable Real Estate has arranged a $3.7 million, 20-year, Commercial Property Assessed Clean Energy (C-PACE) loan for renovations at the Victoria Nursing and Rehabilitation Center in Miami.
The Victoria Nursing and Rehabilitation Center is an eight-floor skilled nursing facility that is expanding to provide 48 new beds in an upgraded and more efficient building.
In addition to the expansion, the financing will fund multiple energy-efficient upgrades to the building’s HVAC system, as well as a new standby emergency generator. The latter effort complies with Florida’s state law mandating backup power sources in nursing homes and assisted living facilities, which Gov. Rick Scott signed into law in 2018.
“The Victoria Nursing project, which follows Counterpointe’s recent funding of $50 million in efficiency and resiliency projects for hospitals in California, demonstrates how well PACE financing can serve the healthcare community on a national level,” says Eric Alini, managing partner of Counterpointe. “Healthcare presents a unique opportunity to help our communities become more energy efficient while protecting our most vulnerable citizens, which is why we have recently expanded our financing programs to include a physician-led effort to improve the sustainability and resiliency of healthcare properties.”
The Winmar Group is the general contractor for the expansion. Construction is underway, with completion scheduled for the end of spring 2020.