Nuveen Green Capital Closes $290 Million Loan For Pendry Hotel & Residences In Tampa

The asset involved is a mixed-use development known as the Pendry Hotel & Residences, located at 102 West Whiting Street in Tampa. This new construction project features a 38-story luxury condominium and hotel, representing a significant investment in the Riverwalk District. The loan amount secured for this project is $290,000,000, categorized as a construction loan with a term of 28 years.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $290,000,000
• Lender: Ryan Doyle, Brendan Moore & Tyler Amano - Nuveen Green Capital
• Landlord: Two Roads Development
• Loan Type: Construction
• Loan Terms: 28 years

This transaction is notable as it marks the largest loan closing to date for Nuveen Green Capital, as well as the first C-PACE financed transaction in Tampa. The deal was structured to allow Two Roads Development to utilize C-PACE mid-construction, providing flexibility in repayment and enabling the financing of the project in multiple tranches. The deal team, led by Ryan Doyle, Brendan Moore, and Tyler Amano, was instrumental in achieving this landmark transaction.