PACE Equity and Lone Star PACE Administer $2.4 Million in C-PACE Financing for Medical Office Renovations in Collin County
DALLAS, Sept. 09, 2025 (GLOBE NEWSWIRE) -- PACE Equity, the nation’s leader in Commercial Property Assessed Clean Energy (C-PACE) financing, along with Lone Star PACE, a leading administrator of Texas’ C-PACE programs, today announced the closing of $2.4 million in C-PACE financing for a medical office building north of Dallas.
The 57,000-square-foot Independence Medical Center, located at 5501 Independence Parkway in Plano, will undergo a series of renovations funded by C-PACE. Planned upgrades include a full HVAC replacement, modernized common areas, and the installation of 56 covered parking spaces topped with solar-paneled rooftops.
Beau Engman, President and Founder of PACE Equity, said: "We are pleased to partner again with Lone Star PACE. The benefits of C-PACE financing go beyond providing long-term, fixed-rate strategic capital — it is a funding solution that enables developments like Independence Medical Center to complete sustainable building improvements."
C-PACE funded improvements are expected to result in roughly $664,000 in projected utility savings over the assessment’s 30-year financing term.
Lee McCormick, President of Lone Star PACE, said: "Collin County is one of the fastest-growing markets in Texas, and projects like Independence Medical Center demonstrate how C-PACE can provide property owners with a smart, cost-effective way to modernize their buildings while conserving resources. This financing not only strengthens the property’s long-term performance but also aligns with the region’s broader economic development and sustainability goals."
C-PACE provides long-term, fixed-rate financing for energy efficiency, water conservation, renewable energy, and resiliency upgrades. Repayment is secured through a voluntary tax assessment on the property and funds can be applied before, during, or after construction.
Collin County, home to Plano, is among many Texas jurisdictions that have established a C-PACE program, giving developers access to innovative financing tools that support sustainable growth and community investment.
To learn more about how C-PACE can support your development or redevelopment project, visit www.pace-equity.com and www.lonestarpace.com.
About PACE Equity
With deep C-PACE experience and a direct lending model, PACE Equity brings certainty to your capital stack. With almost $1 billion funded and $2 billion in committed capital, we provide long-term, low-cost, non-recourse financing that enhances returns and moves projects forward. We offer binding commitments and end-to-end management that developers trust. Learn more at 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 in Texas. LSP helps local governments, economic development corporations, chambers of commerce and trade associations promote economic development and resource conservation by facilitating C-PACE projects alongside property owners, C-PACE capital providers, contractors and other stakeholders. The company's goal is to promote sustainability as well as increased property values while positively impacting cash flow and utility savings. For more information, visit www.lonestarpace.com.
Media Contacts
Lexi Dehmer
Digital Marketing Specialist at PACE Equity
Olivia Lueckemeyer
Director of Marketing & Media Relations at Lone Star PACE
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f6920cd8-05b3-4da5-aec9-daba501ce5ce
Independence Medical Center
Independence Medical Center is a 57,000-square-foot medical office building in Plano, Texas.
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