About the workshop

An interactive workshop for developers, lenders, investors, and advisors seeking a clear, working understanding of C-PACE and its role in today’s financing environment.

C-PACE has evolved well beyond its origins as a niche tool for financing small-scale energy efficiency upgrades. It is increasingly being used to support ground-up development, major capital improvement projects, and the recapitalization of higher-cost construction debt. What was once a sustainability product at the margins of the capital stack is now an integral part of how sophisticated sponsors structure deals — offering flexible, cost-effective capital across a wide range of asset classes and project types.

This workshop is a practical, hands-on walkthrough of how C-PACE actually works in practice. North Bridge Founder & CEO Laura Rapaport and Managing Director Ilana Ettinger break down the mechanics of the product, the use cases where it delivers the most value, and the deal-level considerations that practitioners need to understand. Along the way, they'll draw on real transactions from North Bridge's own experience to show how C-PACE performs across a variety of project types and market conditions.

You'll leave with a clear understanding of how C-PACE fits into the capital stack, when and how to use it, and the practical knowledge to evaluate it for your own deals.

Hosted by
Laura Rapaport
Laura Rapaport
Founder & CEO, North Bridge

Laura Rapaport is the Founder and CEO of North Bridge, a leading provider of C-PACE and clean-energy financing for commercial real estate.

Ilana Ettinger
Ilana Ettinger
North Bridge

Ilana Ettinger works on C-PACE origination and structuring at North Bridge, helping sponsors integrate C-PACE into the capital stack.

What You'll Learn

How C-PACE works and why it matters now

C-PACE is a long-term, fixed-rate credit solution secured by a special assessment — not a mortgage. We'll cover the basics of how it's structured, how it's repaid, and why its unique position in the capital stack makes it attractive to both sponsors and lenders. We'll also trace how the market has grown from niche sustainability deals to over $10B in cumulative originations.

How sponsors are using C-PACE to reduce equity and replace expensive debt

C-PACE can fund up to 40% of total project capitalization in new construction, and in many cases can finance renovation costs at up to 100%. We'll walk through how developers are using it to reduce equity requirements, replace high-cost mezzanine, and improve project-level returns without taking on additional recourse.

How C-PACE works for ground-up development, recapitalizations, and retrofits

Not every deal looks the same. We'll cover the full range of use cases, from new construction to post-TCO recapitalizations to energy and resiliency improvements and explain how the structure adapts to each. We'll also address what qualifies under most state programs and why building to current code often unlocks C-PACE eligibility automatically.

How to navigate lender consent and get senior lenders on board

We'll cover what lenders are looking for, how consent has become more standardized as the market has matured, and what sponsors can do to smooth the process, including how North Bridge approaches lender conversations on its own deals.

Who this is for

This workshop is built for anyone involved in sourcing land for ground-up development — whether you're finding sites, underwriting them, or closing on them.

Roles
SponsorsLendersDevelopersInvestorsAdvisorsCapital Markets Brokers
Asset Types
MultifamilySingle-family and build-to-rent communitiesRetail and mixed-useIndustrial, logistics, and warehousingEntertainment and hospitalityData centersSpecialty assets (self-storage, medical, senior living)

No C-PACE background required. If you want to understand C-PACE as a capital markets tool, you'll get value from this workshop.

Format & access

One live session

Held live on Zoom, with time for questions throughout.

Recorded for everyone

The full recording is sent to every registrant, whether or not you attend live.

Slides & materials

Participants receive the workshop slides, case studies, and implementation tools.

Private Circle community

Post-workshop access to Circle, with recordings, resources, and the Thesis Driven community.

Hear from our alumni

★★★★★

"Brad and Paul opened my eyes to how real estate deals get put together, where incentives lie, and how we might create business cases for proptech and climate tech. Great stuff!"

Christopher N.
Audette
★★★★★

"A perfect introduction to the most important real estate concepts, distilled down in the perfect way to absorb and retain. Paul and Brad clearly thought a lot about how to actually educate, not just data-dump the group."

Sam P.
Industrious
★★★★★

"Excellent course that guides you through a fictional case study with detailed explanation of every single step for all personas at every stage of a real estate deal. I highly recommend enrolling."

Darshana J.
RXR
★★★★★

"Huge thank you for an amazing five weeks. The 'Selling into Real Estate Owners' course content is a goldmine for anyone building or selling in PropTech, and the weekly cohort discussions are a rare chance to learn directly from peers."

Suhani J.
Deal Meridian
★★★★★

"A collection of engaging and collaborative sessions on how to launch and structure a venture into real estate. Paul and Brad put on a great class with an even better collection of participants."

Mac T.
MBA Student, Carnegie Mellon

Frequently Asked Questions

Will participants receive a copy of the materials?

Yes. All registered participants will receive an invitation to join our private Circle community. Recordings and slides will be uploaded within one week of the workshop ending.

I can’t make this time—will a recording be available?

Yes. All registered participants receive access to the recordings and materials via Circle, even if they cannot attend live.

As featured in

Inman Fast Company Propmodo Podcast Fifth Wall MIT CRE CRE Unplugged Jupiter

C-PACE: Redefining Commercial Real Estate Capital Stacks

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