Amalgamated Bank Closes $1.7M Retroactive C-Pace Deal to Revitalize Nashville Retail Space

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 $1.7M retroactive C-PACE financing recapitalized the recently completed project, which is a gut rehab of an 80-plus year-old retail structure. The retail space is home to several bustling small businesses, including the newest location of M.L. Rose Craft Beer & Burger, a popular local chain.

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 ...