Summary
Affinity at Three Springs, developed by Kingsbarn Capital & Development, is a planned 162-unit apartment building located in the foothills of the La Plata Mountains in Durango, CO. The property will include extensive amenities and will help meet the region's growing demand for housing.
C-PACE Opportunity
NGC partnered with HALL Structured Finance to provide $21.7 million in C-PACE financing for the development. The financing will fund key energy efficiency measures as well as low-carbon concrete. C-PACE financing enhanced project feasibility by reducing reliance on traditional debt and will unlock long-term operational savings while supporting Durango's vision for high-quality housing and resilient community growth.
The project highlights how sponsors are increasingly leveraging C-PACE to optimize capital stacks amid tightening credit markets.
