Opportunity
Nuveen Green Capital provided just over $30M in C-PACE funding to refinance extensive energy efficiency measures that had recently been completed — including HVAC, lighting, water conservation, as well as the building envelope – allowing the hotel to increase operating reserves and the sponsors to recoup equity.
Property summary
The Arlo Wynwood Hotel is an all-new, 217-room, nine-story, luxury boutique hotel in Miami’s popular and eclectic Wynwood neighborhood. The hotel was developed by Quadrum Global and designed by NBWW Architects – known for their restoration and redesign of many of Miami’s most historic and legendary properties. The hotel is Wynwood’s first and includes 10,000 square feet of retail space.
We recently financed the Arlo Wynwood, our ALIS award nominated hotel in Wynwood Miami, with Nuveen Green Capital and could not be happier. From our initial phone call to term sheet through seamless execution to a fast and on-schedule closing, NGC’s highly professional team was straight-forward, efficient and a pleasure to work with. They maximized C-PACE loan proceeds and honored our attractive pricing even as the environment around us changed. We are grateful to have selected Nuveen Green Capital on this and look forward to our next one with them.
