Nuveen Green Capital closes $68.6M C-PACE for Fredericksburg's The Meuse
Administered through the Texas PACE Authority, the financing splits $53.2 million for a Kimpton hotel and $15.4 million for retail.
At a glance
Nuveen Green Capital closed $68.6 million in C-PACE financing for The Meuse, a 22-acre mixed-use development DC Partners is building in Fredericksburg, Texas, Connect CRE reported.
The money splits $53.2 million for the Kimpton Fredericksburg hotel and $15.4 million for the retail component.
The Meuse is slated to open in late 2027, and Connect CRE describes it as Fredericksburg's first combined hotel-and-retail destination.
Nuveen Green Capital closed $68.6 million in C-PACE financing for The Meuse, a 22-acre mixed-use development DC Partners is building in Fredericksburg, Texas, Connect CRE reported. The financing is administered through the Texas PACE Authority and funds ground-up construction.
The money splits $53.2 million for the Kimpton Fredericksburg hotel and $15.4 million for the retail component. Those two figures sum to $68.6 million, the total given in the article; Connect CRE's headline puts the loan at $68.3 million. The hotel tranche is roughly three and a half times the size of the retail piece.
The Meuse is slated to open in late 2027, and Connect CRE describes it as Fredericksburg's first combined hotel-and-retail destination. The site is at the corner of U.S. Highway 290 and Main Street, about 70 miles northwest of San Antonio. Plans call for roughly 13,000 square feet of meeting and event space and a 70,000-square-foot retail district of shops, markets, tasting rooms and dining, plus access to IHG's reservation platform.
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