PACE Funding Group, a residential Property Assessed Clean Energy financing provider, announced that it closed a $55 million warehouse credit facility with SunTrust Bank.  Rosemawr Management LLC is also participating in the facility.  The facility will finance PACE Funding's California and Florida originations and includes the option to increase to $100 million to further support PACE Funding's growing business.

"This partnership with SunTrust and Rosemawr provides dependable and efficient capital to increase PACE Funding's ability to deliver the highest quality PACE financing to homeowners in California and Florida," said James Vergara, Head of Capital Markets at PACE Funding Group.

PACE Funding Group serves as a program administrator for the California Statewide Communities Development Authority and Western Riverside Council of Governments in California and The Florida Development Finance Corporation in Florida.  The company completed its inaugural securitization of residential PACE assets in March 2018.