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Consortium America, LLC
Washington DCCDFI Awards for Consortium America, LLC
NMTC (2009) - $80,000,000
Consortium America, LLC (Consortium) makes debt and equity investments in large-scale new construction and redevelopment projects that have the potential to serve as “anchors” or transformational projects in low-income communities. Consortium will continue to target its resources to the most distressed of NMTC-eligible census tracts. Types of real estate that will be financed include retail, industrial, mixed-use, office, community facilities and similar commercial projects. Consortium’s investment products have features such as high loan-to-value ratios, below-market interest rates, interest-only payments for seven years and, most importantly, partially-forgivable principal, all made possible by its NMTC allocation.
NMTC (2008) - $85,000,000
Consortium America, LLC (Consortium) makes debt and equity investments in large-scale new construction and redevelopment projects that have the potential to serve as anchors" or transformational projects in low-income communities. Consortium will continue to target its resources to the most distressed of NMTC-eligible census tracts. Types of real estate that will be financed include retail, industrial, mixed-use, office, community facilities and similar commercial projects. Consortium"s investment products have features such as high loan-to-value ratios, below-market interest rates, interest-only payments for seven years and, most importantly, partially-forgivable principal, all made possible by its NMTC allocation.
NMTC (2006) - $115,000,000
Consortium America, LLC (CA LLC) will use its NMTC allocation to make equity investments and senior and mezzanine loans to large-scale, complex real estate developments. The types of real estate that may be financed by CA LLC include retail, light and heavy industrial, mixed-use, distribution, for-sale housing, office, community facilities, and similar commercial projects. The NMTC allocation will enable CA LLC to offer loans and equity investments that have flexible and non-traditional features, such as loan-to-value ratios as high as 100%, interest rates of up to 300 basis points below market, extended interest-only financing periods, partially forgivable loan principal, and extended amortization periods of up to 30 years.
NMTC (2003) - $110,000,000
The tax credits will enable the allocatee to provide loans that are as high as 95% loan-to-value, and to provide larger amounts of equity capital, mezzanine debt and other forms of higher risk capital than are not commonly available for real estate projects in low-income communities. The allocatee will also require that the bulk of the construction jobs generated by its financing be provided by union members, and will seek to form an alliance with the apprenticeship training programs of local construction trade unions in order to provide new long-term, high-pay job opportunities for local residents and low-income persons.
Other Community Development Financial Institutions in District of Col
Banc of America CDE, LLC
Washington
CFBanc Corporation
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City First New Markets Fund II, LLC
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Consortium America, LLC
Washington
Cornerstone, Inc.
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CSDC New Markets Fund, LLC
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DC Housing Enterprises
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Faithworks
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FINCA USA, Inc.
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Home Depot New Markets Corp., Inc.
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Housing Assistance Council
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National Fund for Enterprise Development
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NT CDFI, Inc.
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Partners for the Common Good
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Telesis CDE Corporation
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Washington Area Housing Trust Fund
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