May 25th, 2023
Investment in leading C-PACE provider to meet growing demand for sustainable investing
Springfield, Mass. and Greenwich, Conn. – Massachusetts Mutual Life Insurance Company (MassMutual) today announced that it has purchased a majority interest in Counterpointe Sustainable Advisors LLC (together with its subsidiaries, collectively, “Counterpointe”), a leader in Commercial Property Assessed Clean Energy (C-PACE), sustainable real estate, and creative energy solutions financing.
“We believe Counterpointe’s extensive experience, track record, and established platform make it one of the premier leaders in the sustainable financing space for U.S. commercial real estate,” said Eric Partlan, MassMutual Chief Investment Officer. “This transaction provides MassMutual with the opportunity to create an innovative investment platform to manage sustainable investment assets and provide solutions-based financing for clean energy projects, ultimately helping to reduce the carbon footprint of commercial real estate and energy infrastructure across the country.”
Since 2013, Counterpointe Sustainable Real Estate (“CSRE”) has been a respected leader in the C-PACE market as both a national C-PACE capital provider and as an administrator of C-PACE Programs in some of the largest most active jurisdictions. Over the past decade, CSRE has played a leadership role driving investment toward clean energy, resiliency and energy efficiency in the nation’s commercial buildings and will continue to be a key component of the broader Counterpointe business.
“The investment from MassMutual will allow Counterpointe to expand its market leading origination platforms and establish an active impact investment management firm for debt assets including green mortgages, sustainable private debt, C-PACE and green energy finance,” said Eric J. Alini, CEO and CIO of Counterpointe. “We couldn’t be more excited about our relationship with MassMutual, who is a forward-thinking institutional investor.”
Concurrent with the acquisition, Counterpointe announced that Christopher Hoeffel will be joining as the company’s President and Chief Operating Officer. Hoeffel will also be responsible for all green real estate investments and platforms. Most recently, he was Co-Founder and President of CoreVest, a leading private lender in single-family rental and multi-family loans. Prior to his position at CoreVest, Hoeffel managed real estate debt investments at Investcorp and served as Global Co-Head of Commercial Mortgages at Bear Stearns.
MassMutual was represented by Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. and Counterpointe was represented by CS Capital Advisors LLC and Adler & Stachenfeld LLP.
MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyowners. Founded in 1851, the company has been continually guided by one consistent purpose: we help people secure their future and protect the ones they love. With a focus on delivering long-term value, MassMutual offers a wide range of protection, accumulation, wealth management and retirement products and services. For more information, visit www.massmutual.com.
Since 2013, Counterpointe has had a major impact in reducing the commercial building sector’s carbon footprint and in providing resiliency to the nation’s infrastructure. Counterpointe Sustainable invests at the intersection of the commercial real estate and energy industries through diversified ESG Infrastructure investments including mortgages, PACE, and other energy financial tools. For more information visit www.CPTsustainable.com.