Summary
SPIRE Academy is a fast-growing sports performance training center and international boarding school situated on 164 acres of land located 40 miles east of Cleveland. The school sought to refinance recently completed energy efficiency measures in their residential dormitories, as well as finance a new solar array on the roof of their extensive aquatics center.
Opportunity
Nuveen Green Capital provided $6.56 million in C-PACE financing which will be used to recapitalize recently completed energy efficiency measures in the school’s new dorms, as well as fund a new, full-scale 1.174 MW solar array on their 290K square foot aquatics center. By utilizing C-PACE, the school was able to pay down existing debt and replenish operating reserves.
