GreenRock Healthcare Capital

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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 years (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.


HASC Executive Roundtable – Availability of Working Capital with PACE

Tuesday, Nov. 15, 2022 | Noon – 1 p.m.

HASC Executive Roundtable – Creating Working Capital With H-PACE

Thursday, Oct. 28, 2021 | Noon – 1 p.m.

Links / Resources




Mitch Creem
Principal, GreenRock
(310) 498-6157
[email protected]

Joe Euphrat
Principal, GreenRock
(415) 847-3316
[email protected]

Rafael De La Rosa
Senior Director, Public Policy and Strategic Partnerships
[email protected]