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CCG Community Partners, LLC
Princeton NJCCG Community Partners (“Community Partners”) received an allocation of NMTCs for use in the recovery and redevelopment of the Hurricane Katrina Gulf Opportunity Zone. Community Partners provides below-market, flexible-term equity investments and loan products (both primary and mezzanine) to develop and rehabilitate real estate projects in primarily in urban core and industrial areas. These investments may be made to businesses that develop the projects or directly to the projects themselves in order to provide gap financing. Community Partners will also be offering a new “seed money” mezzanine product that enables critical early stage pre-development loans and construction financing on terms that are significantly below market.
CDFI Awards for CCG Community Partners, LLC
NMTC (2008) - $20,000,000
CCG Community Partners, LLC (“Community Partners”) provides pre-development, mezzanine and primary debt to develop and rehabilitate real estate in predominantly urban and industrial low-income communities across the nation. The NMTC allocation will allow Community Partners to expand its financial products, including its recently implemented “seed money” mezzanine loan program, which enables critical early stage pre-development loans and construction financing with rates and fees that are at least 50% below market rate. Community Partners also encourages environmentally sustainable practices with its projects, in that most involve the culturally sensitive adaptive reuse of existing historic buildings.
NMTC (2007) - $40,000,000
CCG Community Partners (“Community Partners”) received an allocation of NMTCs for use in the recovery and redevelopment of the Hurricane Katrina Gulf Opportunity Zone. Community Partners provides below-market, flexible-term equity investments and loan products (both primary and mezzanine) to develop and rehabilitate real estate projects in primarily in urban core and industrial areas. These investments may be made to businesses that develop the projects or directly to the projects themselves in order to provide gap financing. Community Partners will also be offering a new “seed money” mezzanine product that enables critical early stage pre-development loans and construction financing on terms that are significantly below market.
NMTC (2005) - $50,000,000
CCG will use its NMTC allocation to provide equity investments and mezzanine loans for commercial real estate developments in urban core and industrial areas. Equity investments will be structured to provide returns that are up to 300 basis points below traditional market returns, and loans will be provided at rates 25% below market. CCG will focus on large-scale projects that can provide significant impact in these communities; projects that would not otherwise likely have been financed without the benefits of the NMTCs.
(0) - $0
Other Community Development Financial Institutions in New Jersey
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