With the successful closing in late March of a New Markets Tax Credit financing to establish St. Luke’s Medical Center within the former Little Sisters of the Poor facility on New Orleans’ West Bank, Crescent Growth Capital ends the first quarter of 2009 having structured $35 million of transactions incorporating tax credit equity in the six months since its founding.
“We are pleased to have received such a positive response from our colleagues in the industry in the months since we opened our doors, but we are still more satisfied with the assistance we have provided to Goodwill Industries and St. Luke’s in New Orleans, and to Neighborhood Centers, Inc. in Houston,” stated Managing Director Troy Villafarra. “Our helping to finance a new regional headquarters for Goodwill, a venue for additional medical services in Algiers for St. Luke’s, and a significant expansion of social services in Houston for Neighborhood Centers – all in the midst of severe uncertainty afflicting financial markets – speaks to the potency of the NMTC program.”
For more information, visit www.crescentgrowthcapital.com