ESG

Property finance was on the agenda during week one of the 29th session of the Conference of the Parties to the United Nations Framework Convention.

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

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

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.

It is still early days for sustainable lending in the US, but the growth of C-PACE and green lending indicates the direction of travel.

Diversity, equity and inclusion have become paramount initiatives for the commercial real estate finance industry, with sweeping changes being driven in part by trade associations and their members, says CREFC's executive director.

The US commercial real estate finance market has come a long way in improving its diversity, equity and inclusion initiatives. But there is more to do before the expectations of the sector’s younger professionals align with the perceptions of senior executives.

Times of dislocation have proven to be times of innovation for the founders of five commercial real estate platforms.

The city's chief climate officer is ‘serious’ about enforcing Local Law 97 to reduce carbon emissions of the city’s biggest assets by 2030.