MD Energy Advisors Secures $13.14M in CPACE Funding for Fidelity & Deposit Building

MD Energy Advisors, a commercial, utility, and financing energy solutions company, recently secured $13.14 million in CPACE (Commercial Property Assessed Clean Energy) financing to support the redevelopment initiative of the historic Fidelity & Deposit Building (210 N. Charles Street). Originally completed in 1894, the office building has sat vacant for more than 20 years. Located in the central business district, the historic office building will be repurposed to multi-family bringing new residents and life to the area.

MD Energy Advisors announced the closing of the CPACE financing in partnership with four other capital sources, including a construction lender, historic tax credits, historic tax credit bridge lender and sponsor equity. “Amidst the turbulence of today’s financial landscape, including interest rate volatility and limited senior loan options, structuring financing options have proven to be more challenging,” said Jason Schwartzberg, President & Co-founder of MD Energy Advisors. “Our unwavering commitment and experience identifying innovative solutions like CPACE coupled with our goal to make the financing process seamless and our team’s exceptional ability to navigate the challenges of securing funding continues to support commercial real estate projects throughout Maryland and beyond. We are grateful for the collaboration amongst the four lenders and remain dedicated to helping our clients thrive in a rapidly changing landscape.”

Upon renovation, the building will feature 231 residential units, 12,000 sq. ft. restaurant space, and 18,000 sq. ft. of retail/office space. CPACE financing will be used to complete the comprehensive renovation.

CPACE is particularly relevant in the current economic climate as the capital is readily available and provides a fixed rate solution with a high degree of closing certainty. CPACE executions include ground up construction, repositions, energy related capital projects and retroactive applications.

“CPACE has truly been transformational in the last few years; the more people know about it the more businesses, the environment and surrounding communities will benefit,” said Schwartzberg. “As a Baltimore-based organization with two founders born and raised in the area, we have a vested interest in the revitalization of Baltimore, and we are excited to continue following in the success of this project for the community.”

About MD Energy Advisors
MD Energy Advisors is a customer-centric energy management, marketing, and efficiency firm providing energy, commercial and financial solutions to utilities, private companies and residential clients. Since 2010, the Company has identified opportunities to reduce energy-related operating expenses, outlined and implemented strategies that improve environmental impact and provided financial vehicles to help execute these strategies for customers throughout the country. MD Energy Advisors’ solutions have demonstrated improved quality and costs savings, including identifying innovative financing solutions for energy-related projects that meet clients’ strategic and funding needs. For more information, please visit