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Amalgamated Bank Commits $250 Million to FASTPACE Platform to Accelerate C-PACE Lending Nationwide

  • Amalgamated Bank commits up to $250 million to fund commercial real estate projects via Allectrify's FASTPACE platform.
  • The partnership targets the underserved middle market with project sizes ranging from $250,000 to $10 million.
  • A portfolio-based commitment grants FASTPACE delegated authority to screen & package projects, replacing traditional deal-by-deal structures.
  • The streamlined process enables faster closings, expanded lender participation, & reduced transaction costs for property owners & developers.
  • The initiative leverages a network of over 40 capital providers to scale C-PACE financing without requiring internal teams at capital providers.
  • Amalgamated Bank operates as a mission-driven commercial bank formed in 1923, offering services across New York City, Washington D.C., San Francisco, & Boston.
  • FASTPACE serves as a tech-enabled infrastructure designed to unlock capital for retrofit-focused projects previously deemed uneconomical.