Carlyle, North Bridge announce strategic partnership to provide up to $1b in C-PACE financing

Carlyle has formed a strategic investment into North Bridge ESG and a commitment to provide up to $1 billion to facilitate the origination of commercial property assessed clean energy (C-PACE) loans by North Bridge.

This partnership leverages Carlyle's strategic growth, real estate and asset-backed finance expertise and enables North Bridge to address evolving market needs on a larger scale.

North Bridge provides C-PACE financing to institutional borrowers in major markets nationwide. C-PACE is a fixed-rate form of financing secured by local property assessments. As a private credit solution with flexible terms, C-PACE is increasingly sought after for its accretive benefits to commercial real estate capital stacks. The financing can be used for new construction projects, renovations and acquisitions and retroactively for recapitalization opportunities.