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28 East Green Street

Updated Dec 4, 2024

Illinois Energy Conservation Authority Secures $15.6M Loan For Student Housing Project In Champaign
FINANCEDStudent Housing

Illinois Energy Conservation Authority Secures $15.6M Loan For Student Housing Project In Champaign

28 East Green Street

$15,600,000

Building Size

—

Asset Type

Student Housing

Closing

Oct 2, 2023

About this deal

AI

Located at 28 East Green Street in Champaign, Illinois, a student housing project has secured $15.6 million in C-PACE financing. The construction loan, provided by The Illinois Energy Conservation Authority and Nuveen Green Capital, aims to fund energy-efficient improvements, utility savings, energy conservation efforts, and job creation.

Summary of transaction details

The Illinois Energy Conservation Authority and Nuveen Green Capital are the key lenders involved in the project. The student housing development aims to make energy-efficient upgrades, reduce utility costs, and contribute to local job growth. Through the C-PACE financing, this project showcases a commitment to sustainability and efficient resource utilization in the Champaign market.

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$15,600,000

Student Housing

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Players

Nuveen
NuveenLender
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Champaign Student Housing Market Snapshot

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.02%

Cash-on-Cash

-0.29%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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