
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.
