C-PACE

The live-work development’s funding includes a $155.5m C-PACE component.

The financing marks the largest C-PACE deal to date in Nevada.

The financing, which comprises a construction loan and C-PACE financing, will be used to develop the second phase of a mixed-use project in Darien, Connecticut.

The New York-based manager has raised $1.3 billion for C-PACE lending series over the past 12 months, backed by appetite from insurance companies.

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The Stern Center for Sustainable Business believes New York’s largest banks and lenders will play a key role in a broader decarbonization strategy.

A growing number of commercial real estate managers have launched or expanded their lending platforms over the past three to six months.

C-PACE has become an attractive tool for sponsors and developers looking for capital, argues Petros co-founder and CEO Mansoor Ghori.

Demand for C-PACE financing is set to increase as US cities introduce stricter environmental rules for real estate.

Commercial real estate owners are making increasing use of the public-private sustainable financing mechanism in a liquidity-constrained market, says Nuveen president and CEO Jessica Bailey.