The global investment group CDPQ has teamed with Nuveen Green Capital to launch a $600 million integrated sustainable commercial real estate financing program.
According to the companies, this Commercial Property Assessed Clean Energy (C-PACE) program will provide capital for new large-scale construction and bridge financings across key asset classes and markets, and it is also designed to offer a turnkey solution while also driving the adoption of sustainability measures in commercial buildings. Nuveen Green Capital will act as the primary sourcing agent for the integrated financing program.
“Developing greener buildings and reducing the carbon footprint of our built environment can create significant value,” said Marc Cormier, executive vice president and head of fixed income at CDPQ. “Through this distinctive financing program, we are able to accelerate the implementation of environmentally sound measures for commercial real estate owners and developers. We are excited to combine our long-term capital with Nuveen Green Capital’s extensive expertise to offer a sustainable integrated financing solution that fully aligns with CDPQ’s climate strategy and commitment to decarbonize the real economy.”
“CDPQ’s strong commitment to sustainability and track record of innovation align very well with our mission,” said Jessica Bailey, president and CEO, Nuveen Green Capital. “This program represents another exciting milestone for the C-PACE industry and Nuveen Green Capital. We are thrilled to be working with CDPQ to build this one-stop shop for bridge and construction loans to meet the growing need for commercial real estate financing.”
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So they are using Canadas pension fund money to invest in smart cities all over the world with their “partners” including leasing commercial property… weird how many of these real estate transactions are located in and around where in-natural disasters happened like Ga TN TX NJ LA and more… over the years.. and they have partners all about with the same theme…