CDPQ, a global investment group, and Nuveen Green Capital (NGC), a leader in sustainable commercial real estate financing, have introduced a $600 million financing programme targeting sustainable development in the US commercial real estate sector. This integrated programme combining Commercial Property Assessed Clean Energy (C-PACE) financing with senior bridge and construction loans, offers a unique, single-source financing solution for new large-scale developments across key asset classes and markets.
The initiative is designed to provide flexible, committed capital, supporting commercial property owners and developers in adopting environmental sustainability measures.
“Developing greener buildings and reducing the carbon footprint of our built environment can create significant value. Through this distinctive financing program, we are able to accelerate the implementation of environmentally sound measures for commercial real estate owners and developers,” said Marc Cormier, Executive Vice-President and Head of Fixed Income at CDPQ.
Jessica Bailey, President and CEO of Nuveen Green Capital added, “We are thrilled to be working with CDPQ to build this one-stop shop for bridge and construction loans to meet the growing need for commercial real estate financing.”