GreenRock Healthcare Capital

GreenRock provides up to 30-year financing for most types of health care construction projects and large capital purchases using tax assessment bonds. GreenRock hPACE financing provides an additional source of funding to allow health care providers to make their facilities more modern, efficient and resilient.


GreenRock hPACE provides both for-profit and nonprofit hospitals access to needed capital repaid through a new property tax assessment on the respective owner’s property tax bill. Although most nonprofits do not pay property ad valorem taxes, they do and can pay annual property assessment payments. 

More than 50 percent of any construction project and a variety of large capital purchases could qualify for GreenRock hPACE financing.

Free Qualification Analysis For All HASC Members: GreenRock will review your CapEx budget or construction budget details at no cost to determine how much of your planned spending will qualify for GreenRock hPACE financing.


Highlights of GreenRock hPACE Financing include:

  • As long as 30 year (to run with life of asset), fixed rate, fully amortized financing
  • No loan agreement and no financial covenants;
  • Non-recourse; no guarantees required;
  • For health systems, hPACE does not require consent of the Obligated Group;
  • Opportunity to prepay fully or partially at any time;
  • Can capitalize interest for up to two years;
  • Interest only available;
  • hPACE LTV can be 25 percent of property value;
  • Reimbursement opportunity for prior expenditures;
  • Obligation attaches to the property, not the owner;
  • Repaid via property tax bill as additional tax assessment.

Links / Resources




HASC Executive Roundtable – Creating Working Capital With H-PACE

Noon – 1 p.m., Thursday, Oct. 28

GreenRock will facilitate a discussion about current capital constraints in the market and the availability of H-PACE financing as a potential new source of funds to help hospitals manage their short and long-term capital programs. H-PACE can also be used to reimburse your hospital for prior qualifying expenditures, generating significant amounts of cash that can be used for any working capital needs.

As the PACE market continues to see growth, there may be opportunities for significant access to cash. Content from trusted resources is challenging on this topic, and HASC is excited to provide you exclusive access to a targeted discussion on how PACE financing may be worth exploring as you strive to meet all of your working capital needs. 

Click HERE to register.


Mitch Creem
Principal, GreenRock
(310) 498-6157

Joe Euphrat
Principal, GreenRock
(415) 847-3316

Paul Young
Senior Vice President of Public Policy and Reimbursement, HASC
(213) 538-0777