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Nuveen’s C-PACE lending fund closes with over $1B in commitments
The Nuveen Green Capital fund now totals more than $3B raised since 2023, with fixed-rate, long-term C-PACE loans aimed at sustainability upgrades and new construction.
Nuveen Green Capital, an affiliate of Nuveen, has closed its Nuveen CPACE Lending Fund IV with more than $1B in capital commitments, marking the largest sum it has locked in to date, Bisnow reported.
Launched in 2023 and structured around yearly raises, the fund brings total capital commitments to more than $3B. The fund’s C-PACE loans finance environmentally focused projects on commercial property, with lending deployed at the state level and described as fixed-rate, long-term credit that can support sustainability and energy-efficiency improvements, climate resilience, and ground-up construction or refinancing.
Bisnow said about 60% of Nuveen’s C-PACE loans go to new construction projects, with the remaining 40% used for recapitalization deals. The article also noted Nuveen aims to fill a financing gap left as some traditional bank lenders, including Bank OZK, have reduced commercial real estate exposure.
The outlet cited expanding C-PACE demand, including PACENation data showing a record $3.7B deployed in 2025, up 53% year over year. Bisnow added that Nuveen Green Capital previously closed on $1.4B in capital commitments in 2024, compared with $75M in 2017, and has grown loan originations to $2.1B last year from $1.2B in 2023.