Amalgamated Bank Closes $1.7M Retroactive C-Pace Deal to Revitalize Nashville Retail Space
Rhea-AI Summary
Amalgamated Bank (Nasdaq: AMAL) has successfully closed a $1.7 million retroactive Commercial Property Assessed Clean Energy (C-PACE) financing deal in Nashville, Tennessee. The financing, executed through Allectrify's FASTPACE Platform under the Davidson County C-PACER Program, supports the renovation of an 80-year-old retail structure.
The project, owned by A. Ray Hospitality, includes various energy-efficient improvements such as LED lighting, high-efficiency HVAC, improved insulation, energy-efficient windows, and storm resiliency measures. The renovated space houses several small businesses, including a new M.L. Rose Craft Beer & Burger location.
As America's largest B Corp bank, this deal reflects Amalgamated Bank's commitment to climate lending and providing accessible capital for sustainable building improvements.
Positive
- Successfully closed $1.7M C-PACE financing deal for sustainable building improvements
- Demonstrates capability in executing green financing solutions
- Expands presence in Nashville market through strategic partnership
Negative
- None.
News Market Reaction 5 Alerts
On the day this news was published, AMAL declined 4.67%, reflecting a moderate negative market reaction. Our momentum scanner triggered 5 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $41M from the company's valuation, bringing the market cap to $827M at that time.
Data tracked by StockTitan Argus on the day of publication.
Amalgamated Bank and Allectrify Back Green Redevelopment Powering Neighborhood Businesses
NASHVILLE, Tenn., Aug. 05, 2025 (GLOBE NEWSWIRE) -- Amalgamated Bank, a subsidiary of Amalgamated Financial Corp. (Nasdaq: AMAL), today announced the successful closing of a Commercial Property Assessed Clean Energy ("C-PACE") financing under the Davidson County C-PACER Program using Allectrify’s FASTPACE Platform.
The nearly
The property is owned and operated by A. Ray Hospitality, a local restaurant group owned by Austin Ray, himself a Nashville-based restaurateur for over two decades. The project includes electrical improvements related to interior & exterior LED lighting, high-efficiency HVAC, improved roof and wall insulation, energy efficient windows, and storm resiliency measures.
As America’s largest B Corp bank and a national leader in climate lending, Amalgamated Bank’s latest C-PACE closing using the FASTPACE platform reflects an ongoing commitment to enabling access to capital for C-PACE projects of all sizes. This closing highlights how an innovative approach to C-PACE financing can be a force for good, driving investment in healthy building stock and thriving local economies.
C-PACE financing supports long-term, competitive financing for commercial property improvements for energy efficiency, renewable energy, resiliency, and water conservation. Amalgamated Bank is a leader in deploying C-PACE capital, and its partnership with FASTPACE enables efficient closing for projects of all sizes.
“We are proud to lead the industry in providing C-PACE as a solution that empowers commercial property owners to finance energy efficiency, resiliency, and sustainability measures without the barriers of high up-front costs,” said Sam Brown, Chief Banking Officer at Amalgamated Bank. “Allectrify has been a tremendous partner in the execution of this deal, making it a seamless and efficient process.”
“Amalgamated Bank walks the walk when it comes to expanding access to capital and investing in impactful local projects,” said Colin Bishopp, Chief Executive Officer of Allectrify. “This retroactive C-PACE financing for a neighborhood spot in Nashville is another prime example. FASTPACE is proud to provide superior service for all parties to efficiently close on the C-PACE financing for this project.”
About Amalgamated Bank:
Amalgamated Bank, the wholly owned banking subsidiary of Amalgamated Financial Corp. (Nasdaq: AMAL), is a mission-driven full-service commercial bank and a chartered trust company with a combined network branches in New York City, Washington D.C., San Francisco, and Boston. Amalgamated Bank provides commercial and retail banking products, investment management and trust and custody services, and lending services. Since their founding in 1923, Amalgamated Bank is diligent in fulfilling their mission to be America’s socially responsible bank, empowering organizations and individuals to advance positive change. The businesses that Amalgamated Bank focuses on are generally mission aligned with our core values, including sustainable companies, clean energy, nonprofits, and B Corporations. www.amalgamatedbank.com.
About Allectrify, PBC:
C-PACE made simple for lenders and borrowers. Allectrify’s FASTPACE platform enables banks, credit unions, CDFIs and non-bank lenders to offer C-PACE financing quickly and easily, at no cost to the lender and with reduced transaction costs for borrowers. Through Allectrify’s network of FASTPACE lenders, borrowers can access C-PACE financing for projects of all sizes. https://allectrify.com/.
Media Contacts
Ayele Ajavon
Head of Communications
Amalgamated Bank
929-979-5811
media@amalgamatedbank.com
Lainie Rowland
Allectrify
973-908-9304
lainie@allectrify.com
FAQ
What is the value of Amalgamated Bank's latest C-PACE financing deal in Nashville?
What improvements were funded by AMAL's C-PACE financing in Nashville?
Who are the key partners in Amalgamated Bank's Nashville C-PACE deal?
What types of businesses benefit from AMAL's Nashville C-PACE financing?
How does this deal align with Amalgamated Bank's business strategy?
