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Sol-REIT Closes on Loan for New Jersey Project, Raising $300M

Sol-REIT Closes on Loan for New Jersey Project, Raising $300M

Sol-REIT, LLC has closed a term loan refinancing of the Inspira solar project in southern New Jersey. With the closing of this loan, Sol-REIT will be moving quickly to execute upon its $300 million and growing loan origination pipeline of construction-to-permanent loan financing opportunities for middle-market solar projects across the United States.

Middle-market solar developers are the backbone of our emerging industry,” said Sol-REIT’s CEO, Mark Settles. “Sol-REIT is proud to provide developers fixed-rate, long-term financing that finally closes the gap in developer access to capital.”

To capitalize on its loan investments, Sol-REIT is completing its initial round of senior preferred equity investor commitments and is in the process of raising an additional $300 million in an institutional round.

“Our offerings streamline access to capital for solar developers while providing investors much-needed access to green investments,” said Brian A. Sidman, Sol-REIT’s Co-Founder & Head of Capital Markets. The Inspira solar project currently serves the 210-room Inspira Medical Center, the 100-acre campus in Mullica Hill, New Jersey.

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Mark SettlesBrian A. Sidman

About Ted Jackson

A highly successful financial journalist, corporate financial writer and magazine entrepreneur with strong expertise in writing on fixed income and pass-through securities (ABS), finance and banking, the economy, economic developments, financial markets, investing and personal finance, the business of behavioral healthcare and more.

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