SolaREIT, a solar real estate investment fund, says it has closed on a revolving credit facility with Atlantic Union Bank (AUB), giving the company an additional $15 million of liquidity and enabling it to aggregate land and leases under community solar projects prior to placing them into a securitization facility.
“The revolving credit facility with Atlantic Union Bank compliments our securitization facility with Nuveen/TIAA CREF, further allowing us to scale nationally,” says Laura Pagliarulo, president of SolaREIT.
SolaREIT provides solar developers and landowners with capital solutions, including land purchases, lease purchases and solar loans, that allow landowners to access the full value of their solar land.