Nuveen Green Capital Provides $28.4M Construction Loan For Oklahoma City Office And R&D Development | 308 Northeast 9th Street | Nuveen Green Capital | Office | Loan

Summary

Loan

OKLAHOMA

Office

277,300 sqft

A $28.4 million construction loan has been secured for the development of an 8-story office and R&D building in Oklahoma City's Innovation District. The project, located at 308 Northeast 9th Street, is being funded by Nuveen Green Capital, in collaboration with Stride Bank, Oklahoma City Redevelopment Authority, and developers Garner Tenenbaum Holdings and Robinson Park Investments. The 277,300 square foot property will be a part of a masterplan development that includes a boutique hotel, retail space, public park, and an innovation hall.

Summary of transaction details

Property Type: Office - R/D Flex
Transaction Amount: $28,400,000
Address: 308 Northeast 9th Street
Market: Oklahoma City

Nuveen Green Capital, known for their expertise in C-PACE (Commercial Property Assessed Clean Energy) financing and sustainable solutions, will utilize their portion of the $100 million financing package to fund energy and water-saving improvements in the building. These upgrades will include enhancements to the building envelope, roofing, glazing, water heaters, low flow fixtures, chillers, boilers, lighting, and elevators. The collaboration between Nuveen Green Capital and the various stakeholders involved in the project highlights the commitment to making Oklahoma City's Innovation District an eco-friendly and sustainable hub for commercial development.

Players

All
1

Lenders
1

Nuveen Green Capital

Details

Deal Summary

FINANCED

IMAGE: Uli Robles, Sean Ribble & Spencer Olson DATE: 06/30/2023 ADDRESS: 308 Northeast 9th Street MARKET: Oklahoma City ASSET TYPE: Office - R/D Flex ~ SF: 277,300 LENDER: Nuveen Green Capital - Sean Ribble, Uli Robles & Spencer Olson LOAN AMOUNT: $28,400,000 LOAN TYPE: Construction LOAN TERMS: 7.62% | 30 Years NOTE FROM LENDER: Nuveen Green Capital, a national leader in C-PACE (Commercial Property Assessed Clean Energy) and sustainable financing solutions, collaborated with Stride Bank, Oklahoma City Redevelopment Authority, and developers, Garner Tenenbaum Holdings and Robinson Park Investments, to fund the construction of an 8-story office and R&D development in Oklahoma City’s Innovation District. Commercial Property Assessed Clean Energy (C-PACE) is a state policy-enabled financing mechanism that allows building owners and developers to access the capital they need to make energy related deferred maintenance upgrades in their existing buildings, support new construction costs, and make renewable energy accessible and cost-effective. The office and R&D tower will be an integral part of a masterplan development, which will include a boutique hotel, retail space, public park space, and an innovation hall. Nuveen Green Capital's portion of the $100M financing package will fund energy and water saving improvements such as the building envelope, roofing, glazing water heaters, low flow fixtures, chillers, boilers, lighting, and elevators.

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Address308 Northeast 9th Street

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