Lauderdale Behavioral is the redevelopment of a vacant hospital into a modern behavioral health facility in Ripley, Tennessee. The facility will help address a critical shortage of inpatient and outpatient mental health and substance abuse treatment in rural Tennessee. C-PACE financing supports a range of building energy upgrades including building envelope, HVAC, electrical, and insulation improvements.
Highlights
Pathway Lending funded this $1.4M C-PACE transaction through the FASTPACE platform. The project closed quickly and efficiently — closing occurred within roughly five weeks of term sheet execution. C-PACE closed a gap in a complex capital stack, as the project also received NMTC financing which closed concurrent to C-PACE.
Results
The C-PACE financed improvements are projected to save $18K annually in energy expenses, supporting long-term operational sustainability for this critical healthcare facility.