Nuveen Green Capital Completes First C-PACE Financing in New Hampshire
Nuveen Green Capital (NGC) has completed the first Commercial Property Assessed Clean Energy (C-PACE) financing transaction in New Hampshire, providing $23.2 million for BRX Development's The Brickyard project in Lebanon. This marks a milestone as it is the inaugural C-PACE deal under the state’s newly launched C-PACER Program administered by the New Hampshire Business Finance Authority. The total financing package includes an additional $31.5 million senior construction loan from Silver Heights Capital, arranged through Kay Finance. The funding supports energy and water efficiency improvements as well as flood/stormwater management at a 26-acre site that will feature for-sale townhomes and rental apartments in its first phase. The C-PACE financing is structured into two assessments with fixed rates over 30 years, offering long-term capital while preserving equity. The deal demonstrates how C-PACE can complement traditional loans to support phased development projects.
Topics: C-PACE financing green infrastructure New Hampshire development