Alexandra ‘Ali’ Cooley

What’s been the biggest highlight and biggest challenge of 2025 for your team thus far?  

Among the numerous highlights of 2025, there have been two big ones! 

First, we are celebrating our 10th anniversary since Nuveen Green Capital’s (formerly Greenworks Lending) founding this year. It has given us the opportunity to celebrate our immense growth — both for our firm and the overall Commercial Property Assessed Clean Energy (C-PACE) industry over the past decade, and reaffirm our culture and values with our team. It is amazing to see how co-founder Jessica Bailey and my early motivation to aid in decarbonizing the commercial real estate industry by designing and scaling what was then a lesser-known financing mechanism called C-PACE in 2015 could now result in a nearly 100-person strong team with over $4 billion in assets under management.

Second, our firm’s recent shift to my assuming the role of CEO in addition to chief investment officer and becoming a part of Nuveen’s newly created Investment vertical, which Jessica is leading, offers exciting new opportunities for us to continue to build on our incredible momentum.

The biggest challenge has been navigating continued disruption in the capital markets. The year started slowly with a lot of uncertainty. That has cleared up somewhat and we are seeing unprecedented market activity. No one has a crystal ball, but our ability to quickly pivot and adapt, which is rooted in our entrepreneurial firm culture, has been invaluable to us. 

How important is C-PACE in the capital stack in today’s market? 

Once considered a niche financing mechanism, C-PACE has truly come into its own. For most of this year, equity markets were very challenging, and borrowers continue to seek alternative options for their capital stacks, continuing a trend that began with COVID. C-PACE has shown through the recent market cycles that it can provide much-needed flexibility, whether working alongside senior lenders or providing incremental leverage, enabling projects to move forward while also lowering overall costs.

What’s the most common question asked by those unfamiliar with C-PACE today? 

We still hear, “How is it different from a senior construction loan?” or “Which senior lenders will participate alongside you?” Our lending works alongside other sources of financing to complete capital stacks. We’re paid over 15 to 30 years via a fixed annual or semi-annual assessment, which makes it a valuable and flexible component of a financing tool kit.

What areas of the country do you see the most potential for growth in C-PACE loans?

We see the potential for growth across all major commercial real estate markets where C-PACE policy is active. Recently, we have been seeing a lot of opportunity in California and the Southeast  — especially Florida. We’re seeing tremendous interest in large, trophy assets. For example, the Pendry Hotel & Residences in Tampa, Florida, was the industry’s largest C-PACE transaction to date.  We are also seeing opportunities to expand internationally.

Kermit the Frog said it isn’t easy being green. Was he right?

He had a point. Especially in shortening and more volatile market cycles, it can be hard to think long term. That’s why it’s important to keep our mission front and center. For us, it’s always about making investments in commercial real estate upgrades that make sense for the long term. This benefits everyone — building owners, investors and tenants.

Lighting Round:

“The Summer I Turned Pretty” or “The Morning Show”?

I grew up in New England in a beach town, so I have to say “The Summer I Turned Pretty”!

Where will rates be one year from now?

The same. There are significant inflationary indicators — that said, I think there’s a bias toward cutting short-term rates. My best guess is that these net each other. 

Friend, unfriend, block: Office, retail, hospitality?

C-PACE is a friend of all.

How do you shake off market stress?

First, running or exercise. Then, I get granular about potential impacts to our portfolio and business.

NFL or college football?

NFL. My dad is a diehard 49ers fan, so that was a lot of my Monday nights.

What song would be the theme tune of your life?

“This Must Be the Place” by the Talking Heads. David Byrne is just wildly creative and manages to keep creating. Also, you can’t not be a little happier after listening to this song.

Ultimate dinner party: Pick three guests?

Ralph Lauren, Nancy Meyers and Rosario Candela. I love how they all create or created magic in physical spaces, which translates to sticking power and, ultimately, lasting value or relevance.

Thanksgiving: Are you the chef or a spectator?

Bartender.

Holiday wish?

Snow!