Nuveen Green Capital Provides $7.5M Construction Loan For Cheyenne Megaspace Development, Tulsa

The Cheyenne Megaspace in downtown Tulsa, Oklahoma, is set to undergo a historic renovation. The former Oklahoma Tire & Supply Company's warehouse will be transformed into the new headquarters for 36°N, a 501c3 non-profit organization. This mixed-use development will also house the largest entrepreneurial support center and coworking space in the state, offering a total of 107,000 square feet of space. Thanks to a collaboration between Nuveen Green Capital, Stride Bank, and Central State Bank, the project will receive a $7,500,000 construction loan to fund the necessary improvements.

Summary of transation details

• Property Type: Mixed-use
• Transaction Amount: $7,500,000
• Market: Tulsa, OK
• Lender: Nuveen Green Capital - Sean Ribble
• Loan Type: Construction Loan
• Loan Terms: 28 years, fixed rate

The lending institution behind this project is Nuveen Green Capital, known for its expertise in sustainable financing solutions. Sean Ribble, representing Nuveen Green Capital, played a crucial role in securing the loan. The funding package for the Cheyenne Megaspace development amounted to $33.5 million. Through C-PACE (Commercial Property Assessed Clean Energy) financing, improvements will be made to enhance the building's electrical, lighting, HVAC, windows, doors, and roofing systems, aligning the project with energy-efficient standards.

Note from the lender: Nuveen Green Capital, Stride Bank, and Central State Bank collaborated to support the Cheyenne Megaspace development. This project represents an important step in the revitalization of downtown Tulsa, providing a cutting-edge space for 36°N and the local entrepreneurial community.