- Nuveen closed $785M in capital for its third C-PACE lending fund.
- The fund finances energy efficiency, water conservation, and resiliency projects in CRE.
- Nuveen’s C-PACE strategy now exceeds $6B in assets under management.
Backed by Institutional Capital
According to ESG today, Nuveen and its green finance arm, Nuveen Green Capital, raised $785M for the Nuveen C-PACE Lending Fund III. The fund gives insurance investors access to long-term returns through sustainable real estate financing.
How It Works
C-PACE (Commercial Property Assessed Clean Energy) is a state-led program. It helps building owners fund energy upgrades through property tax assessments. This method offers better terms than mezzanine debt or equity.
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Momentum in the Market
This is the third C-PACE fund from Nuveen since acquiring Greenworks in 2021. That firm, now Nuveen Green Capital, helped Nuveen enter the clean energy lending space.
Why It Matters
C-PACE is becoming a preferred option for retrofitting commercial buildings. It supports ESG goals while offering stable, tax-secured returns to investors.
The Bigger Picture
Institutional demand for sustainable finance is rising. Funds like Nuveen’s are reshaping CRE lending by aligning financial performance with environmental goals.
