Opportunity
Nuveen Green Capital provided $30 million in C-PACE financing of the $91.8 million total project cost to fund building infrastructure, lighting, electrical, HVAC, and plumbing measures, as well as associated soft costs. Through C-PACE, alongside owner equity, preferred equity, and senior debt, the borrower was able to fill a gap in the capital stack to help bridge this mid-development project to completion.
Property summary
The Ascent is a new, 122-unit boutique condominium-hotel, part of the prestigious Tapestry Collection by Hilton, that will offer ski-in/ski-out mountain access to the Canyons Resort in Park City, UT. The planned condo-hotel will offer a restaurant, bar/lounge, retail space, an outdoor pool, business center, fitness center, as well as 2,223 square feet of meeting space.
