Nuveen Green Capital’s deal team, led by Ahmad Cory Jubran & Aidan McLaughlin, closed on $15 million in #CPACE financing for Madison Station, a new 360-unit multifamily development in Rexburg, ID. NGC partnered with Sundance Bay to provide a nearly $30 million financing package to the Sweetwater Companies for this new development project, which will provide much-needed housing to the area. “We are excited to have closed the first C-PACE financed transaction in Idaho. This landmark project is further evidence of C-PACE’s expansion as a cost-effective financing solution across the U.S. It was an honor to work with Sundance Bay and Sweetwater on this project, which will provide a new, modern, energy-efficient residence option to the growing community. This transaction is a great example of using C-PACE in lieu of a typical bank A-note, leveraging C-PACE’s low interest rate and borrower and lender-friendly paper to provide a valuable alternative to bank debt. We look forward to many future closings in the great state of Idaho!” - Aidan McLaughlin
LOAN Learn More: https://lnkd.in/gFaKtWJ4 IMAGE: Ahmad Cory Jubran & Aidan McLaughlin DATE: 12/30/2024 ADDRESS: 577 Trejo Street MARKET: Rexburg, ID ASSET TYPE: Multifamily ~ UNITS: 360 ~ SF: 300,000 LENDER: Cory Jubran & Aidan McLaughlin - Nuveen Green Capital LANDLORD: Sweetwater Companies LOAN AMOUNT: $15,000,000 LOAN TYPE: Construction LOAN TERMS: 30 years NOTE FROM LENDER: The Nuveen Green Capital deal team, led by Cory Jubran and Aidan McLaughlin, were proud to have provided $15 million in C-PACE financing alongside Sundance Bay, who provided the rest of the construction financing. Nuveen Green Capital’s C-PACE financing acted as a synthetic A-note, significantly reducing the blended cost of capital. C-PACE measures included building envelope, MEP systems, and water conservation measures. #RealEstate #tradedla #IdahoRealEstate #IdahoRealEstate #CaliRealEstate #TradedPartner #Rexburg #Idaho #Multifamily #SweetwaterCompanies #NuveenGreenCapital #CoryJubran #AidanMcLaughlin