Sunya Get smarter about energy transition
  • Home
  • Industry News
  • Newsletter
  • Podcast
  • Contact Us
Sunya
Industry News
October 8, 2024

CDPQ and Nuveen Green Capital launch $600mm integrated financing program for sustainable commercial real estate development

Newsfeed
CDPQ and Nuveen Green Capital launch USD 600-million integrated financing program for sustainable commercial real estate development

New York and Montréal, October 7, 2024

  • Innovative program will combine senior and Commercial Property Assessed Clean Energy (C-PACE) financing, providing a one-stop shop for bridge and construction loans to meet the growing demand for sustainable commercial real estate financing
  • The program will support cost-effective energy efficiency, water conservation, renewable energy and resiliency improvements tied to new or existing commercial real estate (CRE) developments with the aim of reducing the environmental impact and improving sustainability of the built environment

CDPQ, a global investment group, and Nuveen Green Capital (NGC), a leader in sustainable commercial real estate financing solutions, announced today the launch of a USD 600‑million (CAD 830‑million) integrated sustainable commercial real estate financing program. This innovative offering combines Commercial Property Assessed Clean Energy (C‑PACE) financing and senior bridge and construction financing aimed at the U.S. commercial real estate (CRE) market.

The competitive, single-source program will provide a substantial source of flexible, committed, and discretionary capital for new large-scale construction and bridge financings across key asset classes and markets. The program will offer a turnkey solution while also driving the adoption of sustainability measures in commercial buildings. As a leading provider of C‑PACE across the United States, NGC will act as the primary sourcing agent for the integrated financing program.

“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. “We are excited to combine our long-term capital with Nuveen Green Capital’s extensive expertise to offer a sustainable integrated financing solution that fully aligns with CDPQ’s climate strategy and commitment to decarbonize the real economy.”

“CDPQ’s strong commitment to sustainability and track record of innovation align very well with our mission,” said Jessica Bailey, President and CEO, Nuveen Green Capital. “This program represents another exciting milestone for the C‑PACE industry and Nuveen Green Capital. 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.”

Aligned with the U.N. Sustainable Development Goals, C‑PACE is a U.S. commercial real estate financing initiative to promote a cleaner and safer built environment. In the 40 states where it is offered, commercial property owners can obtain accretive, long-term financing for energy efficiency, renewable energy, water conservation and climate resiliency measures for new development, renovation, or post-construction recapitalization projects.

Since its founders launched the first successful C-PACE financing program in 2014, NGC has been at the forefront of establishing the asset class. Today, the U.S. C‑PACE market surpasses over USD 7 billion in financing activity across over 2,300 projects1. In 2023, NGC provided 41% of the total C-PACE originations volume2.

1Based on C-PACE Alliance’s 2023 National C-PACE Program Volume Data.
2Based on C-PACE Alliance’s 2023 National C-PACE Program Volume Data and NGC’s total origination’s volume for 2023.

About CDPQ

At CDPQ, we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public pension and insurance plans, we work alongside our partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate and private debt. As at June 30, 2024, CDPQ’s net assets totalled CAD 452 billion. For more information, visit cdpq.com, consult our LinkedIn or Instagram pages, or follow us on X.

CDPQ is a registered trademark owned by Caisse de dépôt et placement du Québec and licensed for use by its subsidiaries.

ABOUT NUVEEN GREEN CAPITAL

Nuveen Green Capital is a national leader in sustainable commercial real estate financing solutions and an affiliate of Nuveen, the investment manager of TIAA responsible for over $1 trillion in assets under management. Established in 2015 by the C-PACE industry’s founders and standard-setters, Nuveen Green Capital is a private capital provider dedicated to making sustainability a smart financial decision for commercial real estate owners who seek to improve the energy, water and resiliency performance of their property. For more information, visit www.nuveen.com/greencapital.

– 30 –

For more information
Media contact+1 514 847-5493 (Québec/Canada)+1 212 596 6314 (International)[email protected]

JAMIE MCCORRY
Vice President, Marketing & Communications
NUVEEN GREEN CAPITAL
+1 959 261-8689
[email protected]

TAGS: #industrynews
PREVIOUS ARTICLES
Home > Industry News
October 8, 2024

BHP and SAIL sign MOU to accelerate potential pathways to steel decarbonisation

NEXT ARTICLES
Home > Industry News
October 8, 2024

Ashtrom Renewable Energy Commences Operation of Tierra Bonita Solar Project

Comments are closed.
Related Post
January 2, 2025
Pembina Pipeline Corporation Announces Closing of PGI’s
October 10, 2024
ISS-Corporate Acquires Carbon Accounting Software Provider, SustainaBase
May 22, 2025
Elliott Announces Shareholders Vote for Change at
June 5, 2024
Microsoft’s Datacenter Community Pledge: To build and

Recent Posts

  • TPG Rise Climate Acquires Aurora Energy Research from CGE Partners
  • rPlus Energies Secures Over $500 Million in Tax Equity Financing with RBC Community Investments for 800 MW Green River Energy Center
  • HONEYWELL, JOHNSON MATTHEY, GIDARA ENERGY AND SAMSUNG E&A FORM SAF TECHNOLOGY ALLIANCE
  • TAE Technologies Raises $150 Million in Latest Funding Round
  • Ormat Technologies Announces Strategic Leadership Changes

Archives

  • June 2025
  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023

Categories

  • Industry News
  • Newsletter
  • Podcast
Scroll To Top
© Copyright 2024 Sunya Technologies Inc.