Nuveen Green Capital and Lone Star PACE Facilitate $5.5 Million in C-PACE Financing to Recapitalize Las Colinas Office Tower

DALLAS, Oct. 28, 2025 (GLOBE NEWSWIRE) -- Nuveen Green Capital, a leader in sustainable commercial real estate financing solutions, in conjunction with Lone Star PACE, a leading administrator of Texas’ C-PACE programs, has facilitated $5.5 million in C-PACE financing for a 1.1-million-square-foot multi-tenant office tower located at 600 E. Las Colinas Blvd. In the Dallas-area suburb of Irving.

The 22-story high-rise, situated in the heart of the Las Colinas Urban Center, underwent HVAC and automation controls upgrades in August 2024 that qualified for Commercial Property Assessed Clean Energy (C-PACE) financing. The property owner is retroactively financing these improvements through C-PACE, leveraging the program’s long-term, fixed-rate structure to enhance cash flow and preserve capital.

Sean Ribble, Senior Director of Originations at Nuveen Green Capital, said:

"It was a pleasure to partner with Convergent Capital Partners and Lone Star PACE to provide C-PACE financing for the Las Colinas Office Tower in the growing city of Irving. By recapitalizing previously installed energy efficiency measures through C-PACE, the sponsor was able to restructure their capital stack to improve cash flows while ensuring the asset's long-term profitability.

We are proud to see increased adoption of C-PACE as a mainstream financing tool for exciting commercial real estate projects like this in Dallas County and across the country, and we look forward to partnering with CCP and LSP in the future."

C-PACE allows property owners to access low-cost, long-term financing for energy and water conservation systems at commercial buildings. Property owners can leverage C-PACE financing before, during or after construction to fund qualifying improvements such as HVAC, lighting, water conservation and building automation systems.

Lee McCormick, President of Lone Star PACE, said:

“This Las Colinas project underscores how C-PACE can support reinvestment in existing commercial assets while aligning with regional sustainability goals. By retroactively financing energy-efficient improvements, the owner is enhancing the property’s competitiveness in one of North Texas’ most dynamic submarkets.”

C-PACE-funded upgrades at 600 E. Las Colinas Blvd. are expected to reduce the property’s annual electricity consumption by 10%. Savings from the C-PACE financing are projected to total $7.3 million over the assessment’s 24-year term.

Dallas County, home to Irving, is among several Texas jurisdictions that have established a C-PACE program, enabling developers to access innovative financing that aligns with economic development and sustainability goals.

To learn more about how C-PACE can support your development or redevelopment project, visit www.nuveen.com/greencapital and www.lonestarpace.com.

About Nuveen Green Capital
With over $4 billion originated, Nuveen Green Capital is a national leader in sustainable commercial real estate financing solutions and an affiliate of Nuveen, the $1 trillion+¹ asset manager and wholly owned subsidiary of TIAA. The company, which was founded by C-PACE industry pioneers who helped design the nation's first successful statewide C-PACE program², has grown to offer a market-leading suite of accretive CRE financing products and a full-service lending platform with all underwriting, legal, and asset management functions executed in-house.

About Lone Star PACE
Lone Star PACE serves as a program administrator for city and county Commercial Property Assessed Clean Energy (C-PACE) programs in Texas. LSP helps local governments, economic development corporations, chambers of commerce and trade associations promote economic development and resource conservation by facilitating C-PACE projects alongside property owners, capital providers, contractors, and other stakeholders. The company’s goal is to promote sustainability and increased property values while positively impacting cash flow and utility savings. For more information, visit www.lonestarpace.com.

Media Contacts

Lesley Osborn
Senior Manager, Marketing & Communications at Nuveen Green Capital
Lesley.Osborn@Nuveen.com

Olivia Lueckemeyer
Director of Marketing & Media Relations at Lone Star PACE
Olivia@LoneStarPACE.com

¹ Total assets under management (AUM) as of 1/1/2025
² The United States Department of Energy: 2016 C-PACE Report lists the Connecticut C-PACE program as the first statewide C-PACE program in the U.S.