Sean Ribble & Spencer Olson Of Nuveen Green Capital Provide $27.2M Loan For Senior Housing In San Clemente

The asset involved in this transaction is a senior housing property located at 2421 Calle Frontera in the San Clemente market. The loan amount for this recapitalization transaction is $27,200,000, structured with a 30-year loan term.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: $27,200,000
• Lender: Sean Ribble & Spencer Olson - Nuveen Green Capital
• Landlord: Harbert Management Corporation
• Loan Type: Recapitalization
• Market: San Clemente
• Loan Terms: 30 years

Nuveen Green Capital collaborated with Live Oak Bank on a comprehensive $50.7 million financing package for The Seville. The financing package included $27.2 million in C-PACE financing aimed at recapitalizing energy and water efficiency measures completed at the property. This strategic use of C-PACE financing, in conjunction with senior debt, enabled Harbert Management Corporation to reduce the average cost of capital for the asset.