PACE Loan Group, Nuveen Green Capital finance $140M in data-center C-PACE loans

PACE Loan Group and Nuveen Green Capital financed $140 million in data-center C-PACE loans across two deals, newsroom tracking data show.

The larger is a $100 million Missouri loan, which the tracking data identify as the largest C-PACE deal in state history. The smaller is a $40 million Houston loan at 24% loan-to-value at ViVa Center.

A 24% loan-to-value ratio leaves most of the property's value outside the lender's claim, though the tracking data do not name the borrower or the other capital in the stack. Two loans at such different sizes and leverage suggests lenders are comfortable underwriting data centers at both the top of the C-PACE size range and at low leverage; that is an inference from two deals, not a market-wide pattern.

PDG agreed to sell its Indonesian enterprise data centers to Sinar Mas-backed SMPlus Digital Investama, a deal covering five operating facilities across Greater Jakarta, Bandung, Surabaya and Pekanbaru. PDG will retain its 400-megawatt hyperscale campuses.

The sale price is not disclosed in the tracking data, and the coverage does not say when the transaction is expected to close.