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The Lease Advisory and Asset Finance Group was established at Carreden in 2002. Our team has worked together as advisors and asset finance specialists for institutional investment since the early 1990s. Since joining Carreden, we have acted as advisors to insurance and bank finance companies, utilities, and energy developers and integrators in the solar industry, for both distributed generation and utility scale projects, utilizing both lease and partnership finance structures. We have successfully advised clients in transactions representing over $9 billion in asset cost, including 45 MW of solar distributed generation and utility scale projects and 60 MW of wind projects through year-end 2010.
Our primary focus is on hard-asset finance in the renewable energy, transportation, and manufacturing sectors where our superior analytical and structuring experience brings added value to clients. Transactions are frequently complex and often involve multiple parties and advisors. Our emphasis on coordination and cooperation are paramount in achieving successful and timely results.
We have earned a reputation as a premier advisor within the big-ticket asset finance sector and solar distributed generation and utility industry based on a history of innovation and flexibility. Our principal strengths include:
- Significant investment advisory experience over a broad range of assets and industries in transactions employing traditional credit structures as well as project financing and master lease structuring, including opportunities employing investment tax credits for solar and other renewable energy facilities;
- A strong track record of successfully executing lease financings and sale transactions, including Sec. 1031 Like Kind Exchange transactions;
- Superior analytical and structuring experience designed to produce successful results and maximize transaction profitability;
- A focus on long-term success that has resulted in excellent client relationships and multiple assignments.
Experience
Each principal has more than 15 years of financial structuring and banking experience in executing big-ticket lease and project finance transactions. Our background working as principals provides a balanced perspective on issues that arise between transaction parties, resulting in quick and successful resolution. We act as a coordinated team in each transaction, focusing on economic analysis, financial and tax structure, asset-specific issues and legal framework.
Advisors, not Brokers
We take pride in our corporate philosophy, which emphasizes advocating the interests of our clients ahead of any transaction. We are long-term, relationship-oriented advisors. We seek transparency in our client relationships, becoming in effect a specialized extension of their own capabilities. Our goal is to fully understand the goals and objectives of our clients to ensure success on every assignment.
Selected Recent Advisory Successes
- 2008-2010:
- Engaged by solar developers and project sponsors as advisor to arrange, source and successfully close permanent institutional equity capital of up to $300 million for solar energy distributed generation and utility scale projects across 11 states;
- Engaged as advisor by an institutional wind equity investor in the successful closing of a partnership equity financing of $155 million in a wind project;
- Engaged as advisor by an institutional solar equity investor in the successful closing of over 10MW in solar distributed energy investments.
- 2011-2012:
- Engaged by solar developer to advise and place over 75MW in solar utility scale financing;
- Engaged by solar sponsor to advise and place over 50MW in solar utility scale financing;
- Engaged by institutional equity investor to advise and close over 50MW in solar and wind project financing.
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