Dechert Represented Nuveen in Its Largest C-PACE Loan to Date

Dechert represented Nuveen Green Capital (NGC), a lender specializing in sustainable commercial real estate financing, in closing its largest Commercial Property Assessed Clean Energy (C-PACE) transaction to date at US$290 million for the Pendry Hotel & Residences in Tampa, Florida.

C-PACE provides flexible financing to fund sustainability measures in new, ongoing, or recently completed commercial real estate projects. This record-breaking deal underscores C-PACE's evolution into a mainstream financing solution.

NGC's C-PACE capital will fund energy and water efficiency and resiliency measures, including the building envelope, lighting, and HVAC. The project is the first in Florida to finance flood panels through C-PACE to guard against erosion from high water levels.

The Dechert team advising Nuveen Green Capital included global finance partner Jason S. Rozes and commercial real estate finance associate Marley Strauss.

About Dechert

Dechert is the law firm that helps business leaders lead.

For more than 150 years, we have advised clients on critical issues - from high-stakes litigation to first-in-market transaction structures and complex regulatory matters. Our nearly 1,000 lawyers in commercial centers worldwide are immersed in the key sectors we serve - financial services, private capital, real estate, life sciences and technology.

Dechert delivers unwavering partnership so our clients can achieve unprecedented results.