1810 Bryant Road, Lexington, Kentucky 40509
At A Glance
- PROPERTY OWNER: Rainmaker Holdings, LLC
- PROJECT TYPE: New Construction
- TOTAL PACE FINANCING: $1,150,218.21
- FINANCING TERM: 20 years
Energy Project Partners
- PACE DISTRICT: Lexington-Fayette County
- PACE LENDER: Stonehill Strategic Capital
- CONTRACTOR: Ecogreen Solutions
Improvements & Savings
- ENVELOPE: 6% Above Code
About the Energy Project
As the first project in the Lexington-Fayette County EPAD, Rainmaker Holdings LLC utilized PACE to finance construction of its new Avid Hotel operated by IHG. To immediately improve cash flow, generate net operating revenue, and reduce overall energy consumption costs, owners collaborated with the Urban County Government, local contractors, and Stonehill Strategic Capital to finance over $1,150,000 in eligible improvements over a 20-year amortization period.
Opening in the summer of 2021, PACE financing highlights the Commonwealth’s and the Lexington-region’s resilience during the pandemic and the increased flexibility PACE provides to new business opportunities. Bringing jobs, added property valuations, and economic development to the Lexington-region, Rainmaker Holdings, Avid Hotels by IHG, Stonehill Strategic Capital, and the Lexington Fayette Urban County Government are proving why PACE is an instrumental financing component for commercial new-builds across the Commonwealth.
Why PACE Financing?
No Down Payment + No Personal Guarantee + Off Balance Sheet Treatment
= Preserved Credit Lines & Freed Up Capital Budgets