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Buildings and Trees

Fixed-rate capital bridging projects to completion

C-PACE bridge

Learn more

Volatility in capital markets has caused significant disruption in the commercial real estate market.

Nuveen Green Capital — the C-PACE financing division of Nuveen, the $1T+ asset manager — specializes in reliable and flexible bridge financing options.

Commercial Property Assessed Clean Energy (C-PACE) makes it possible for commercial property owners to obtain fixed-rate, low-cost, long term financing for a wide range of commercial and multifamily real estate projects.

Types of projects include:
  • Pre or Mid-Construction
    • Cost overruns
    • Replenish reserves
  • Refinance/ Pay-Downs
  • Project delays
  • Pre-stabilized, Lease up
  • Equity Buy-Out
  • Financing
  • Recapitalizations
  • Supply chain disruptions

Program highlights

Value for sponsor:

  • Net proceeds up to 35% of property value
  • Fixed interest rate with a long amortization (20-30 years from first payment date)
  • Delayed first repayment — up to 24 months post-closing
  • Non-recourse except for development projects which require a completion guarantee
  • Financing secured via a non-accelerating property tax assessment (C-PACE assessment)
  • Prepayable at any time subject to sliding scale prepayment fee
  • No financial covenants after completion

Value for lender:

  • Enhanced economics through blended pricing accretive to property level cash flows
  • Fixed rate provides certainty for refinancing
  • Long term provides optionality for refinancing
  • De-risking construction period
  • Control in a default
    • No workouts
    • Non-acceleration
    • No restriction on foreclosure rights
  • Ample cure periods
  • Escrow of C-PACE assessment proceeds

Financing parameters*

  • Property type
    Office, industrial, multifamily, retail, hospitality, and non-profit
  • Financing amount
    $5MM – $500MM
  • Interest rate
    10-Year Treasury + 260-300bps
  • Term
    20-30 year; shorter financing terms available
  • Amortization
    Full term, 1-3 years of I/O, and sculpted amortization structures available; Actual/360
  • Coverage
    1.25x DSCR (1.1x allowed on multifamily assets in major metro areas)
  • Prepay
    Tailored prepayment fees that step down over time
  • Recourse
    Non-recourse upon completion

Our process

Nuveen Green Capital has funded over $4B1 into hundreds of C-PACE assessments across the country. We fully manage our deals from beginning to funding to servicing – providing a level of execution certainty and exceptional service.

Why use Nuveen Green Capital?

With over $4 billion in C-PACE capital originated, Nuveen Green Capital is a national leader in sustainable commercial real estate financing solutions and an affiliate of Nuveen, the $1T+ asset manager 2 and wholly owned subsidiary of TIAA. The company, which was founded by C-PACE industry pioneers, who helped design the nation’s first successful statewide C-PACE program 3 has grown to offer a market-leading suite of accretive financing solutions for commercial real estate owners who seek to improve the energy, water, and resiliency performance of their commercial property. Nuveen Green Capital is a private capital provider dedicated to making sustainability a smart financial decision for commercial property owners and developers.

Contact us
Darien, CT
19 Old Kings Highway South, Suite 210, Darien, CT 06820
1As of 9/2025
2Total assets under management (AUM) as of 1/1/2025
3The United States Department of Energy: 2016 C-PACE Report, lists the Connecticut C-PACE program as the first statewide C-PACE program in the U.S.
*All parameters, terms, rates and pricing displayed are subject to change at any time.
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