C-PACE

The transaction is a record for the Nuveen affiliate and will be used to recapitalize a Class A office building in San Jose.

The $76.2m package will refinance a luxury hotel in Santa Fe, New Mexico.

The pair will combine senior and C-PACE financing to supercharge sustainable real estate developments and existing assets.

The funding was arranged by Lone Star PACE and will be used to develop data centers in the Texas city.

The private equity manager is taking a minority stake in North Bridge as part of the deal.

The live-work development’s funding includes a $155.5m C-PACE component.

The New York-based manager has raised $1.3 billion for C-PACE lending series over the past 12 months, backed by appetite from insurance companies.