Securitization and Corporate Investment
As 2018 came to a close, so did two significant capital events for Greenworks Lending. In sequence the firm announced that CarVal Investors committed $250 million to fund large scale projects and provided a $40 million corporate investment to Greenworks Lending. Next, the firm announced the closing of its second rated securitization of C-PACE assets. The securitization arranged by Guggenheim Securities with Nuveen Private Markets (an affiliate of TIAA) as the lead investor, will net proceeds of $150 million.
For additional information each of these transactions, full press releases and recent news coverage are linked below:
- Bloomberg News | Brian Eckhouse, “Greenworks Arranges $440 Million for Clean-Energy Real Estate,” December 3, 2018
- Newswire | Greenworks Lending, “Greenworks Lending Announces $40 Million Corporate Investment From CarVal Investors,” December 5, 2018
- Newswire | Greenworks Lending, “Greenworks Lending Completes Its Second Rated Securitization of Commercial PACE (C-PACE) Assets,” December 5, 2018
- Bisnow | Dees Stribling, “Equity Residential, Greenworks Deals Represent Surge In Green Real Estate Finance,” December 9, 2018.
Pictured above: Jerry Keefe, principal at CarVal Investors with Genevieve Sherman, Congressman Jim Himes, Ali Cooley and Jessica Bailey at a recent event held at Greenworks Lending’s headquarters in Darien, CT.