Financing for Sustainable Real Estate Projects: Resources & Results

This webinar occurred on Wednesday, May 23, 2018, from 1:00 -2:00 p.m. EDT

View Recording

As the business case for sustainable investments in real estate has grown, capital market entrepreneurs have developed new tools and strategies to finance real estate energy efficiency and renewable energy projects.

The third in ULI’s Responsible Property Investment Council’s (RPIC) webinar series, this one-hour webinar provided an overview of some of the new tools helping developers get access to low-interest capital to finance sustainable new developments and energy efficiency property retrofits. Panelists discussed new lower interest “Green mortgages”, efficiency-as-a-service contracts, and Property Assessed Clean Energy (PACE) programs, as well as some of the traditional finance tools that can be used to improve the economics of sustainable real estate project investments.



Brenna Walraven (moderator), president and CEO, Corporate Sustainability Strategies, Inc.

Brenna Walraven is internationally recognized as an innovative and dynamic leader in the commercial real estate industry, with 28 years of experience leading large, diverse real estate organizations and serving some of the most discriminating institutional investors. Brenna founded Corporate Sustainability Strategies (CSS), a firm dedicated to providing best practice solutions to real estate management and sustainability through thought leadership, innovation, and the pursuit of excellence.  Her clients represent over 450M SF and over $100B in AUM.

In addition to being an accomplished author, a sought-after speaker, and a talented instructor, Brenna thoroughly enjoys helping firms and teams be the best they can be in the real estate industry.


Rachel Davis, business development officer, Petros PACE Finance

Rachel Davis is vice president of PACE Originations for Petros PACE Finance. Petros, a direct lender focused solely on commercial PACE, has funded over $50 million in projects across seven states and the District of Columbia since 2016, including the largest commercial PACE deal in the United States. Rachel is based in Houston and focuses on expanding Petros’ presence in Texas and in other select PACE markets throughout the country.


Chrissa Pagitsas, director, green financing business, Fannie Mae

Chrissa Pagitsas is the director of Fannie Mae Multifamily’s Green Financing Business.

Under Ms. Pagitsas’ leadership, the Green Financing Business’ portfolio has grown to over $30B through YE 2017. She is responsible for market transforming innovations in the financing industry such as creating the Green MBS, launching mortgage loan products that finance energy/water efficient investments, and determining how to integrate green cost savings into conventional mortgage underwriting.

Ms. Pagitsas regularly advises national, state and local policy on the intersection of energy efficiency and housing. She initiated and led the project to create the EPA’s ENERGY STAR® Score for Existing Multifamily and the EPA Water Score for multifamily properties across the U.S.

Prior to Fannie Mae, Ms. Pagitsas implemented environmental sustainability strategies for real estate owners and large-scale utility data and financial management solutions for utility companies in the U.S. and Europe.

Ms. Pagitsas is the Secretary-Treasurer and a Board Member of the U.S. Green Building Council. Ms. Pagitsas holds an MBA from the Darden School of Business, University of Virginia and a BA from Johns Hopkins University.


Joe Indvik, founder and principal, Rock Creek Consulting LLC

Joe Indvik is an entrepreneur and consultant focused on clean energy finance. He is the founder and principal of Rock Creek Consulting LLC, where he works with start-ups, non-profits, and other clients to unlock the energy efficiency and renewable energy financing market. He also leads financing efforts for the Department of Energy’s Better Buildings Initiative as a Senior Consultant with RE Tech Advisors. In 2013, Joe co-founded Sparkfund, a startup that provides “as-a-service” financing for energy technologies. He was previously a consultant in the Climate Change and Sustainability practice at ICF International, where he worked with clients including Fortune 500s, federal agencies, universities, cities, non-profits, and the UN. He holds a BA in Environmental Economics from Dartmouth College, where he also co-founded a $1M green revolving fund as a student.