The principals of Crescent Growth Capital possess, in combination, over sixty years of banking experience encompassing corporate and public finance, investment banking, real estate, credit analysis and loan underwriting. Since 2005, the firm’s principals have successfully closed approximately $1.3 billion in tax credit financings.
Crescent Growth Capital works on behalf of its clients – be they real estate developers, banks, non-profits or governmental entities – by leveraging existing sources of project funding or working capital to create additional tax credit equity. Traditional bank debt, tax-exempt bond proceeds, developer’s equity, subordinated debt, governmental grant dollars and capital campaign contributions have all been leveraged by Crescent Growth Capital to generate tax credit equity.
Crescent Growth Capital acts as the Financial Arranger for its clients, as a financial architect who secures tax credit allocations on behalf of its clients’ projects, structures project financing to generate tax credit equity, and remains intimately involved in the ensuing dialogue among project sponsors, legal experts, lending institutions and community development entities through financial closing. Drawing upon its historic preservation experience, Crescent Growth Capital partners with project sponsors and architects, and with state historic preservation officers, to craft historic tax credit applications and author nominations to the National Register of Historic Places. CGC also solicits bids from historic tax credit investors and/or buyers and ensures that subsequent legal and regulatory requirements are addressed, so that its clients maximize the amount of historic tax credit subsidy with a minimum of difficulty.
Initial contact with prospective clients frequently takes the form of due diligence discussions, during which Crescent Growth Capital assesses a project’s eligibility for New Markets Tax Credits, Historic Tax Credits and/or additional tax credits, grants, abatements, or extraordinary funding sources. All such discussions are undertaken in the strictest confidence.
Crescent Growth Capital agrees to work with its clients on a case-by-case, contingent basis, with compensation to CGC typically occurring only in the event of a successful financial closing. See Our Process for detail.