Nuveen Green Capital And Lone Star PACE Provide $5.5 Million Loan To Convergent Capital Partners

The asset involved in this transaction is an office property located at 600 Las Colinas Boulevard East in Irving, Texas. The total square footage of the property is 1,100,000 square feet. The transaction is characterized by a loan amount of $5,500,000 designated for energy-efficiency upgrades.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $5,500,000
• Address: 600 Las Colinas Boulevard East
• Market: Irving
• Lender: Sean Ribble - Nuveen Green Capital; Lee McCormick - Lone Star PACE
• Landlord: Convergent Capital Partners

This financing arrangement included C-PACE funding specifically tailored for improvements to HVAC and automation systems already completed in 2024. The energy-efficiency upgrades are expected to reduce electricity consumption by 10% and potentially lead to savings of $7.3 million over the next 24 years.