Opportunity
Nuveen Green Capital and EagleBank partnered to provide a combined capital stack for the $64.5 MM mixed-use development. Nuveen Green Capital provided 20% LTC in C-PACE construction financing, and EagleBank, a local Washington, D.C. community bank, provided 64% LTC senior construction financing. Nuveen Green Capital’s C-PACE financing will fund the building envelope, lighting, HVAC, elevators, and water conservation measures. The building is anticipated to exceed the D.C. Green construction code.
Property summary
The Oliver is a new construction mixed-use project comprised of 93 apartment units and 41,000 SF of office space that will be located at 2711-2719 Georgia Avenue NW adjacent to Howard University’s main campus in Washington, DC. The Oliver is named after the founder of Howard University, Oliver Otis Howard.
The Oliver is a product of a partnership between Rock Creek Property Group, a veteran Washington DC based real estate investment and development company, and Howard University, a private research university founded in 1867.
Nuveen Green Capital’s C-PACE construction financing was instrumental in providing cost efficient capital to fund the energy efficiency and water conservation aspects of our development project. Nuveen Green Capital was an excellent financial partner on this project, and we look forward to working with them on future development projects.
