SAN JOSE, CALIF. — Nuveen Green Capital, on behalf of Jay Paul Co., has closed $220 million in C-PACE financing for 200 Park Avenue, an office building in San Jose. Commercial Property Assessed Clean Energy (C-PACE) provides flexible financing solutions for new, ongoing or recently completed commercial real estate projects.
The financing was used to recapitalize the building’s sustainability and resiliency measures. Designed and developed by Jay Paul Co., the 19-story tower offers 965,000 square feet of Class A office space, including 24,300 square feet of outdoor terraces, four levels of underground parking and a 20,500-square-foot fitness and amenity center.
Matt Cimino and Bruce Ganong of JLL Capital Market’s Debt Advisory represented the sponsor in the financing transaction.