Sol-REIT Closes Term Loan Refinancing of Inspira Solar Project

Sol-REIT, LLC announced the closing of 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. “Investments like these in a portfolio, backed by solar projects with Inspira coupled with high-quality energy off-takers, provide both income-generating opportunities and growth potential.”