PACE loans for REITS

Even while waiting for IRS rules changes on financing solar projects, some REITs are tapping emerging PACE loan programs to secure long-term debt financing for energy efficiency projects for their properties.  See: http://www.bloomberg.com/news/2013-04-07/sewer-bonds-now-saving-power-as-simon-property-uses-pace.html  The PACE programs can be used also for solar.  Look for commercial property owners and, eventually, REITs to consider debt financing via PACE programs where they have the tax appetite, but prefer to borrow the funds.