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Alternative Assets  + Real Assets  + Real Estate  |  September 9, 2024
SolaREIT Closes Solar, Battery Debt Facility with MetLife IM
Joe Palmisano
By: Joe Palmisano

SolaREIT Closes Solar, Battery Debt Facility with MetLife IM

SolaREIT closed a long-term debt facility with MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc. The debt facility will assist in the company’s efforts to expand accessibility to real estate lease financing solutions for solar and battery storage (BESS) developers. The facility is repeatable and scalable, the firm said. The amount was not disclosed.

Vienna, VA-based SolaREIT provides developers and landowners with competitive financing solutions for solar and BESS project real estate, including land purchases, lease purchases, and land loans.

“Our debt facility with MIM allows us to rapidly expand our real estate financing solutions to clean energy developers, improving underlying project economics,” said Laura Pagliarulo, CEO of SolaREIT. “The solar and BESS markets are growing exponentially, demanding ever-expanding access to real estate financing solutions.”

SolaREIT, a minority and women-owned business, was founded in 2020, and has provided real estate financing solutions for more than $2.5 billion of solar and BESS projects across the country.

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About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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