Amalgamated Financial (AMAL) Newsfilter·2025-04-02 15:30Core Insights - Amalgamated Bank successfully closed the first adjustable-rate financing under the Oklahoma County C-PACE Program for the Alley North Office development, utilizing Allectrify's FASTPACE Platform [1][4] Company Overview - Amalgamated Bank is a mission-driven full-service commercial bank based in New York, providing a range of banking products and services, including commercial and retail banking, investment management, and lending services [5] - Allectrify, PBC offers a platform that simplifies C-PACE financing for lenders and borrowers, enabling quick and cost-effective access to financing for various projects [6] Project Details - The Alley North Office development is a significant project in Oklahoma City's Alley North redevelopment district, featuring the first multi-story mass timber office building in the state [2] - The project will serve as the headquarters for C.H. Guernsey & Company, a diversified engineering and consulting firm, and is strategically located along a planned regional transit line [2] Financing and Sustainability - The C-PACE financing will fund a high-efficiency glazing system to enhance the building's energy efficiency, maximizing natural light while reducing heating and cooling energy demand [3] - The project emphasizes sustainability and incorporates human-centered design principles to promote occupant health and well-being [3] Industry Impact - This project marks the first adjustable-rate C-PACE financing in Oklahoma County, allowing for interest rate resets at predetermined intervals, which provides flexibility for borrowers [4]