SolaREIT, a solar actual property funding fund, has bought a portfolio of land property beneath solar initiatives from TPE Development LandCo, a land holdings enterprise that straight helps TurningPoint Energy‘s neighborhood solar growth enterprise nationally. The solar property have been developed to varied levels, from development prepared to totally working initiatives over the prior 5 years. The deal includes greater than 350 acres of land throughout 5 solar initiatives in Virginia, Rhode Island and Maine.
SolaREIT, which launched in late 2020, companions with solar builders and landowners, providing versatile capital options that present a variety of choices for profiting from solar growth on their land.
“We are excited to establish a strategic relationship with SolaREIT as an investment partner for this portfolio of land assets we have held over the last several years,” says Adam Beal, principal of TPE Development LandCo. “SolaREIT was highly efficient to work with and provides us with flexibility on how best to optimize our capital for future land holding efforts in support of TurningPoint Energy’s efforts.”
“We’re excited to work with TurningPoint Energy on these projects. Solar projects require significant land and capital – we’re committed to partnering with developers to offer solutions that reduce project complexity while freeing up capital so developers can focus on what they do best – developing solar projects,” feedback Laura Pagliarulo, president of SolaREIT.