Nuveen Green Capital (NGC) has closed on the financing of $190 million in C-PACE capital for the Virgin Hotels Las Vegas.
The project marks the first C-PACE financed deal in Clark County, as well as the largest in Nevada and second-largest C-PACE financed deal in the country to date, according to the release.
Virgin Hotels Las Vegas, a Curio Collection by Hilton property, is a resort and casino in Paradise, Nev., just one mile east of the Las Vegas Strip and five minutes from the airport. The 29-acre property boasts 1,503 rooms and suites, more than 130,000 square feet of indoor and outdoor meeting and convention spaces, a day spa, outdoor pools, 24-hour gaming, 12 restaurants and bars, and music venue The Theater.
C-PACE financing was used to recapitalize recently completed improvements to the hotel, including HVAC upgrades, LED lighting upgrades, window replacements, water-saving plumbing upgrades, building control system, pool and spa improvements and desert
