Enterprise Community Development Secures Solar Financing for MD Housing Properties
Enterprise Community Development has closed on a $4.5 million revolving credit facility to expand solar energy and battery storage projects across 25 affordable housing communities in Maryland.
The financing is provided by the Maryland Clean Energy Center through its Sustainable Energy Investment Fund in partnership with the Maryland Energy Administration. The facility will support Enterprise’s Clean Energy MD-I portfolio, allowing the organization to immediately secure safe harbor for all 25 project sites under the federal Investment Tax Credit.
Structured as a five-year revolving note with a 3.5% interest rate, the fund is expected to be reused multiple times to support both acquisition-rehab and LIHTC redevelopment projects, helping the organization scale its clean-energy strategy across its 115-community portfolio.
“This financing marks a major milestone in our commitment to delivering clean, resilient and cost-saving energy solutions across our communities,” said John Fox, senior director of clean energy at Enterprise Community Development.
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout