Carlyle is teaming up with North Bridge ESG LLC to commit as much as $1 billion towards lending for commercial properties.
North Bridge offers what's called commercial property-assessed clean energy (C-PACE) loans to institutional borrowers across the country. The loans serve as a private credit solution, come with a fixed rate, and can be used for several commercial real estate services including construction, purchases, renovations, and recapitalizations.
Carlyle said in a statement that C-PACE financing offers "accretive benefits to commercial real estate capital stacks." Under the collaboration, Carlyle will provide up to $1 billion to North Bridge, which will help it address market needs.
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