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Sean Ribble Of Nuveen Green Capital And Lee McCormick Of Lone Star PACE Provide $21.9M Loan For Multifamily Community In Princeton

Property Image
FINANCED
$21,900,000

Texas

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MultiFamily265,000 SF
Financed 01/06/2026
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Property Image
FINANCED

Sean Ribble Of Nuveen Green Capital And Lee McCormick Of Lone Star PACE Provide $21.9M Loan For Multifamily Community In Princeton

599 West Princeton Drive

See Similar Deals
MultiFamily265,000 SF
Financed 01/06/2026
the dealplayerscompscontact
Contact now

Summary

TEXAS
Asset Type:MultiFamily
Price Per Square Foot:$82
Total Square Footage:265,000 SF
Transaction Type:Loan

Ironwood at Princeton is a multifamily community located at 599 West Princeton Drive in Princeton, Texas. The property consists of 306 units and encompasses 265,000 square feet of space.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $21,900,000
  • Lender: Sean Ribble - Nuveen Green Capital
  • Lender: Lee McCormick - Lone Star PACE

Sean Ribble from Nuveen Green Capital and Lee McCormick from Lone Star PACE facilitated the financing for this transaction, enabling the implementation of energy- and water-saving improvements at the property, aimed at enhancing its long-term asset value.

Players

SR
Nuveen Green Capital
Sean Ribble
9 deals$193.1M volume
LENDER
Lone Star PACE
Lone Star PACE
LENDER

Details

FINANCED
IMAGE: Sean Ribble & Lee McCormick DATE: 01/06/2026 ADDRESS: 599 West Princeton Drive MARKET: Princeton ASSET TYPE: Multifamily ~ UNITS: 306 ~ SF: 265,000 LENDER: Sean Ribble - Nuveen Green Capital; Lee McCormick - Lone Star PACE LOAN AMOUNT: $21,900,000 NOTE: Nuveen Green Capital and Lone Star PACE provided $21.9 million in C-PACE financing for Ironwood at Princeton, a 265,000-square-foot, 306-unit multifamily community in Princeton, Texas.The funds will cover energy- and water-saving improvements—including efficient HVAC, lighting, and plumbing—reducing annual electricity and water use by 25% and 20%, respectively, while lowering the developer’s capital costs and enhancing long-term asset value.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$21,900,000.00

Monthly NOI$146,000.00
Monthly Debt Service$138,422.90
Change in Cash Flow$0.00
Refinance Proceeds$0.00