New York & Tri-State + Fairfield/Westchester + Finance | April 21, 2020

The conversation around the "value of green" real estate now focuses on the long-term return on sustainability.

Greenworks Lands $150M Nuveen Commitment

Greenworks Lending, a provider of Commercial Property Assessed Clean Energy (C-PACE) financing headquartered in Darien, CT, has raised $150 million in committed capital from Nuveen, the investment manager of TIAA. This marks the firm’s third investment from Nuveen in three years.

The deal, which was structured by Guggenheim Securities, LLC, will further increase Greenworks’ available funding for C-PACE assets across the country.

“While the current uncertainty in the market is causing stress within the commercial real estate market, Greenworks continues to be committed to providing a long term, secure financing solution,” said Alexandra Cooley, co-founder and COO of Greenworks.

“As longstanding partners, we are confident in Greenworks’ ability to continue to provide quality assets, even in times of economic uncertainty,” said Nuveen’s Chris Miller. “As founders and leaders of the C-PACE industry, Greenworks has taken center stage in establishing C-PACE as an asset class and propelling its growth nationwide.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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