New York, NY (January 10, 2022) –The nation’s leading capital provider dedicated to funding energy performance-enhancing real estate projects for commercial, multi-family and non-profit properties, is rebranding today from Greenworks Lending to Nuveen Green Capital.
The rebranding, including a new visual identity, underscores Nuveen’s longstanding commitment to ESG investing, and follows Nuveen’s acquisition of the firm in 2021, amid increasing investor demand for alternative ESG income.
Greenworks Lending, founded in 2015 by Jessica Bailey and Alexandra Cooley, has been an industry leader since its inception. Led by several of the C-PACE industry’s policy developers and standard-setters, Greenworks Lending completed the industry’s first rated securitization of C-PACE assets in 2017, and went on to complete its second rated securitization in December of 2018. Each of these securitizations received the highest possible score (E1) in S&P Green Evaluations.
“We are thrilled to launch our new brand,” said Jessica Bailey, CEO and President of Nuveen Green Capital. “The Nuveen name amplifies our mission of reducing carbon emissions from the built environment and promoting sustainable real estate development; in addition, it will provide us faster and deeper market penetration as we continue to grow our core offerings and expand into green lending opportunities outside C-PACE, including focusing on solar lending.”
Following its acquisition in the second quarter of 2021 by Nuveen, the global investment manager of TIAA, the company has achieved the following milestones:
- Doubling of originations numbers
- Expansion into 25 states
- Recruitment of an additional 33 team members
- Completion the industry’s largest 144A securitization of C-PACE assets
- Closing its first transactions in New York City, Chicago, Boston, and Philadelphia
“Nuveen Green Capital’s mission to make sustainability a smart financial decision for real estate investors aligns entirely with Nuveen’s focus on delivering alternative ESG investments to clients,” said William Huffman, Head of Nuveen Equities and Fixed Income. “The new brand reflects the evolution of the organization as well as its future as a leader in financing the sustainable evolution of commercial real estate.”
About Nuveen Green Capital
Nuveen Green Capital is a national leader in sustainable commercial real estate financing solutions and an affiliate of Nuveen, the investment manager of TIAA responsible for $1.2 trillion in assets under management as of September 30, 2021. Established in 2015 by the C-PACE industry’s founders and standard-setters, Nuveen Green Capital is a private capital provider dedicated to making sustainability a smart financial decision for commercial real estate owners who seek to improve the energy, water and resiliency performance of their property. For more information, visit www.nuveen.com/greencapital.
About Nuveen
Nuveen, the investment manager of TIAA, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. Nuveen has $1.2 trillion in assets under management as of September 30 2021 and operations in 27 countries. Its investment specialists offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies. For more information, please visit www.nuveen.com.
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