Nuveen Green Capital Provides $16 Million C-PACE Loan For 501 Elm Street Mixed-Use Project

The property involved in the transaction is a mixed-use asset located at 501 Elm Street in Dallas. It consists of 120 units and encompasses a total of 111,000 square feet.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $16,000,000
• Loan Type: C-PACE
• Loan Terms: 22
• Lender: Christopher Ellis, Katherine Swenson, Sean Ribble & Steven Chen - Nuveen Green Capital

This transaction was facilitated by the lender, Nuveen Green Capital, which provided the financing for energy and water efficiency measures as part of the adaptive reuse project. The financing incorporated state and historic tax credits, allowing the sponsor to cover the gap between senior and bridge financing while funding the necessary reserves.