• Integrated financing program combines senior and C-PACE financing for U.S. commercial real estate.
• Offers a one-stop solution for bridge and construction loans to meet growing demand for sustainable financing.
• Aims to accelerate energy efficiency, water conservation, renewable energy, and resiliency improvements in new and existing developments.

Innovative Financing for Sustainable Development

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

Accelerating Sustainability Measures

The competitive, single-source program provides substantial, flexible, and discretionary capital for new large-scale construction and bridge financings across key asset classes and markets. It aims to offer a turnkey solution while driving the adoption of sustainability measures in commercial buildings.

“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.

Strategic Partnership Aligned with Sustainability Goals

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As a leading provider of C-PACE across the United States, NGC will act as the primary sourcing agent for the integrated financing program.

“CDPQ’s strong commitment to sustainability and track record of innovation align very well with our mission,” said Jessica Bailey, President and CEO of 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.”

Promoting a Cleaner and Safer Built Environment

Aligned with the U.N. Sustainable Development Goals, C-PACE is a financing initiative that promotes a cleaner and safer built environment. In 40 states, commercial property owners can obtain long-term financing for energy efficiency, renewable energy, water conservation, and climate resiliency measures for new developments or renovations.

Leading the C-PACE Market

Since launching 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 $7 billion in financing activity across more than 2,300 projects. In 2023, NGC provided 41% of the total C-PACE originations volume.

This integrated financing program by CDPQ and NGC offers a competitive, single-source solution that not only meets the growing demand for sustainable financing in commercial real estate but also accelerates the transition towards a more sustainable built environment.