PACE Loan Group Raises Additional $75 Million for C-PACE Assets

MINNEAPOLIS, Jan. 12, 2021 /PRNewswire/ -- PACE Loan Group (www.paceloangroup.com), a leading provider of Commercial Property Assessed Clean Energy (C-PACE) financing, announces that it has raised $75 million in committed capital from Nuveen, the investment manager of TIAA. This marks PACE Loan Group's second investment from Nuveen in two years, for a total of $150 million. The deal, which was structured by Stifel, Nicolaus & Co., Inc. positions PACE Loan Group to lend on C-PACE assets across the country.

"Despite the pandemic shifting the real estate landscape nationwide, PACE Loan Group is busier than ever, helping developers complete capital stacks, helping property owners obtain rescue capital, or simply upgrade their properties," said Rafi Golberstein, President and CEO of PACE Loan Group.  "We have closed C-PACE projects across 12 states, providing tens of millions of dollars of financing to property owners in an efficient and prudent manor, leveraging our decades of real estate expertise."

"We are very impressed by PACE Loan Group's ability to identify and underwrite quality assets, even in times of economic uncertainty," said Chris Miller, Senior Director, Private Placements at Nuveen. "PACE Loan Group is one of the major players in the C-PACE marketplace nationwide."

About PACE Loan Group

PACE Loan Group (PLG) is a national leader in the C-PACE marketplace, dedicated to providing direct C-PACE financing to commercial property owners for energy-efficiency, renewable energy, water conservation, and seismic projects.  The PLG team has decades of experience in commercial lending and structured finance, providing expertise up and down the capital stack.  To learn more about PLG, visit our website at www.paceloangroup.com.

SOURCE PACE Loan Group

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