Property Summary
Formerly headquarters to Compaq Computers and Hewlett-Packard Enterprise, the 774k square-foot office/industrial building, located in northwestern Houston, will be converted to a state-of-the-art data center as part of the broader ViVa Center technology hub. The fully pre-leased project will offer 12 MW of power when completed and will cater to hyperscale users (companies that utilize large data centers of 10k square feet+) in the cloud computing and artificial intelligence sectors.
C-PACE Opportunity
Nuveen Green Capital is proud to provide $40 million (24% LTV) in C-PACE capital to finance the conversion of the former office headquarters to a data center. C-PACE proceeds will be used to install sustainable building components, such as energy-efficient windows, LED lighting, advanced HVAC systems, and high-efficiency plumbing. The borrower utilized C-PACE for this deep retrofit as it provided cost-effective capital - lowering their overall project costs, which enabled them to align their advanced sustainability objectives with their investor returns.
