ATLANTA — Monarch Private Capital (MPC), a nationally recognized tax-advantaged investment firm that develops, finances, and manages a diversified portfolio of projects that generate federal and state tax credits, is pleased to announce the financial closing of low-income housing tax credit equity (LIHTC) for a 19-million-dollar multi-family development called Tranquility at Griffin Apartments.
This new development is located off US Highway 41, four miles north of downtown Griffin, Georgia and will supply 120 affordable rental housing units for low-income tenants. MPC has partnered with experienced teams at Hill Tide Development, Timshel Development, Gateway Development Corporation, and CRN Development to develop the project, which expects to be placed in service in mid to late 2020.
“Our investment in Tranquility at Griffin Apartments is another example of the benefits of the LIHTC program,” said Brent Barringer, Managing Director of LIHTC for MPC. “We appreciate the collaboration of our partners and commend the leadership of Bob Long and Dan Winters of Hill Tide Development, Todd Wind and Brian Waterfield of Timshel Development, Jason Freeman and Allan Rappuhn of Gateway Development Corporation, and Tommy Ward of CRN Development for delivering superior affordable housing that will positively impact the Griffin community.”
About Monarch Private Capital
Monarch Private Capital positively impacts communities by investing in tax credit supported industries. The company is a nationally recognized tax equity investor providing innovative capital solutions for affordable housing, historic rehabilitations, renewable energy, film, and other qualified projects. Monarch has long term relationships with institutional and individual investors, developers, and lenders that participate in these types of federal and state programs. Headquartered in Atlanta, Monarch has offices and tax credit professionals located throughout the U.S.