Nuveen Green Capital and Silver Heights Capital Provide $36M in Financing for Philadelphia Multifamily Project

Riverwards Group has secured $35.8 million in construction financing from Silver Heights Capital and Nuveen Green Capital for the Somerset Phase II development in Philadelphia, with Nuveen providing C-PACE debt.

Why it matters. The financing supports the development of a 170-unit apartment complex in Philadelphia, which is part of a larger master-planned community and benefits from a strong demand for multifamily housing in the city.