Nuveen Green Capital, a provider of Commercial Property Assessed Clean Energy (C-PACE) financing, has closed $23.2 million in C-PACE financing for the ground-up development of The Brickyard in Lebanon, N.H., the first C-PACE transaction ever completed in the state of New Hampshire. The financing, administered through the New Hampshire Business Finance Authority (BFA) under the state’s newly launched C-PACER Program, closed alongside a $31.5 million senior construction loan from Silver Heights Capital. The $55 million total financing package was arranged by Kay Finance.
The sponsor, BRX Development, a New England–based real estate development firm, is leveraging C-PACE financing to fund energy and water efficiency measures, as well as flood/stormwater management improvements across the project. The first phase of construction, situated on a 26-acre site at 174 Hanover St. — the historic former Densmore Brickyard — includes 51 three-bedroom for-sale townhome condominium
