Amalgamated Bank Partners with Allectrify to Close First Adjustable-Rate C-PACE Transaction in Oklahoma County

Core Insights - Amalgamated Bank has 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 for C-PACE financing [1][4] Company Overview - Amalgamated Bank is a mission-driven full-service commercial bank based in New York, providing a range of banking products, investment management, and lending services since 1923, with a focus on sustainable companies and clean energy [5] - Allectrify, PBC offers a platform called FASTPACE that simplifies C-PACE financing for lenders and borrowers, enabling quick and cost-effective access to financing for projects of all sizes [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, which will serve as the headquarters for C.H. Guernsey & Company [2] - The project emphasizes sustainability through the use of a high-efficiency glazing system that maximizes natural light and reduces energy demand, aligning with human-centered design principles [3] Financing Structure - The C-PACE financing will support long-term, competitive financing for commercial property owners focused on energy performance and water conservation, marking the first adjustable-rate structure in Oklahoma County [4]