Nuveen Announces Rebranding of its Sustainable Commercial Real Estate Financing Business
A Brief Summary
TIAA's investment manager, Nuveen, announced the launch of its new brand, Nuveen Green Capital, which was previously known as Greenworks Lending for the firm's sustainable commercial real estate financing solutions. The rebranding underscores the longstanding commitments of the firm to ESG investing.
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Nuveen Green Capital-previously Greenworks- is a leader in Commercial Property Assessed Clean Energy (C-PACE) financing. C-PACE program allows building owners to borrow money for clean energy projects such as renewable energy, providing a more affordable financing alternative to mezzanine debt and equity.
Nuveen has achieved a lot after the acquisition of Greenworks in 2021 and some of the achievements are the following: 1. Additionally, recruiting 33 team members 2. Completion of the industry's largest 144A securitization of C-PACE assets 3. Double origination 4. Expanding in 25 states.
William Huffman, Head of Nuveen Equities and Fixed Income, said: "“Nuveen Green Capital’s makes sustainability a smart financial decision for real estate and investors aligns entirely with Nuveen’s focus on delivering alternative ESG investments to clients. The new brand reflects the future of the organization as a leader in financing the sustainable evolution of commercial real estate.”
"Nuveen Green Capital's focus on bringing alternative ESG investments to clients matches perfectly with Nuveen's goal on making sustainability a smart financial option for real estate and investors," said William Huffman, Head of Nuveen Equities and Fixed Income. "The new name symbolises the organization's future as a leader in funding the long-term growth of commercial real estate," says the company.