Post Brothers Secures Record $465M C-PACE Financing for Washington, D.C. Office-to-Residential Conversion

Post Brothers announced the closing of $465 million in C-PACE financing from Nuveen Green Capital for The Geneva, a downtown Washington, D.C. office real estate conversion project that represents the largest office-to-residential transformation in the nation's capital.

The commercial real estate financing deal, announced January 30, 2026, supports the conversion of a downtown office building into multifamily housing. An official groundbreaking ceremony was held January 23, 2026, attended by Mayor Muriel Bowser, Deputy Mayor Nina Albert, and other city officials alongside project partners.

Record C-PACE Financing Structure

The $465 million C-PACE loan from Nuveen Green Capital represents a record financing for the firm. Specific loan terms including interest rate, loan-to-value ratio, and amortization period were not disclosed.

Collaborative Partnership Model

"The Geneva marks a major milestone for Post Brothers and for Downtown Washington, D.C.," Matthew Pestronk, Post Brothers President, said in a statement. "This project was made possible through a highly collaborative partnership with Mayor [Muriel] Bowser's administration, the City of Washington, D.C., Mavik, and Nuveen Green Capital, as well as through the use of innovative tools like C-PACE financing. Together, we created a smart, efficient financing model that is not only tailored to Geneva, but scalable and repeatable for projects across the country."

The development partnership includes Post Brothers as lead developer, Mavik as co-developer, and the City of Washington, D.C. as a collaborative partner.

Market Context

The financing comes as Post Brothers reported executing $1 billion in construction projects during 2025. In a Commercial Observer interview, Pestronk discussed the recent shift in market sentiment, noting that "the market for cash-flowing financing had been coming back but was still pretty expensive until the middle of last year, and I would say now" conditions have improved.

The Geneva project addresses office real estate challenges in downtown Washington, D.C. through adaptive reuse. The groundbreaking ceremony included Mayor Muriel Bowser, Deputy Mayor Nina Albert, Michael Doty, Vik Uppal, Brandi Colander, and Councilwoman Brianne Nadeau.