Solar real estate investment fund SolaREIT announced that it closed a $100 million solar lease securitization with asset manager Nuveen.
The former claims this to be the "[l]argest securitization ever in mid-sized and commercial solar land sector by a REIT" and stated that the deal would provide "much needed liquidity to solar developers and landowners."
"This investment confirms the strong interest from the largest and most progressive institutional investors in this sector," SolaREIT managing director Gautam Chandra said in prepared remarks. "Community and commercial solar is in real need of increased financial options and access to more capital. No two projects are exactly the same, and for too long developers and landowners had very limited options in structuring effective solutions."
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