Monarch Private Capital Completes Funding For MPC Powell Historic Fund

August 3, 2017
Company Announcements Historic Rehabilitation

Monarch Private Capital (MPC), a leading syndicator and investor of tax credits, is pleased to announce the closing of MPC Powell Historic Fund for the transfer of federal tax credits.

The fund is comprised of federal historic tax credit equity from the historic renovation of two properties in Columbia, South Carolina. After standing vacant and abandoned for years on two of downtown Columbia’s busiest streets, extensive renovations commenced in July 2016 to fully restore the properties to their original historic integrity. The properties will consist of ±30,000 square feet of authentic mixed-use space featuring 12 foot ceilings, exposed historic brick, detailed stone work, exposed spiral duct work, sky lights and large windows flooding the spaces with natural light. The end result will include retail space and a luxurious boutique hotel expected to be opened Fall 2017.

Paul Sassano, Director of Tax Credit Investments for MPC said “This closing represents our commitment to providing our investors with high quality tax credit equity while contributing to the revitalization of downtown Columbia.”

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