PACE Equity and Lone Star PACE closed $2.4 million in C-PACE financing for a medical office building north of Dallas.

The 57,000-square-foot Independence Medical Center, located at 5501 Independence Parkway in Plano, Texas, will undergo a series of renovations funded by C-PACE. Planned upgrades include a full HVAC replacement, modernized common areas, and the installation of 56 covered parking spaces topped with solar-paneled rooftops.

C-PACE funded improvements are expected to result in roughly $664,000 in projected utility

savings over the assessment’s 30-year financing term.