After Hurricane Maria, and dedicating over four years of resources, Monge Capital Advisors is incredibly proud to have represented the Boys & Girls Clubs of Puerto Rico and their partner Platform for Social Impact in the closing of Oasis, a groundbreaking $43 million development set to positively impact Puerto Rico for generations to come.
This landmark financing, including the Investment Portfolio for Growth Program, the US and PR Department of Education, bridge capital from Local Initiatives Support Corporation (LISC), Raza Development Fund, Nonprofit Finance Fund, and Liif, and New Markets Tax Credit financing from Civic Builders and Capital One, supports a transformative 134,000 SF social impact hub in the Villa Prades community of San Juan, Puerto Rico.
In a community with a $13,402 Median Household Income with a 59% Poverty Rate, Oasis is dedicated to eradicating child poverty by supporting two generations – parents and children – through comprehensive educational, economic, and social development programs. The development is inclusive of a 90,000 SF tuition-free public charter school, a health clinic providing essential services, and a workforce incubator space offering training and support for community residents.
The ripple effects of this development are significant. With most BGCPR clubhouses situated in public housing areas, this model has the potential to be replicated across Puerto Rico. Furthermore, Monge Capital Advisors attraction of four CDFIs, led by Local Initiatives Support Corporation (LISC), to the island as first-time bridge lenders – where access to capital has historically been limited – this project paves the way for future community-focused developments.
A heartfelt thanks to the sponsor team and our extensive group of financing partners. Your collaborative spirit, commitment, and partnership have been instrumental in achieving this monumental milestone. To say the closing team’s expertise and collaborative spirit were invaluable in navigating the complexities of this financing structure in an understatement.
#CommunityDevelopment #NMTC #CDFI #EconomicDevelopment #PuertoRico #CommunityImpact #TransformationalChange #PublicPrivatePartnership #P3 #CDBG #WEPA #Palante
Naming just a few rep team leaders due to character limits!
Olga Ramos, Esq. Eduardo Carrera Mark Preston John Chamberlain Ross Hoffman, Shelly Crowder, Kelly T., Crystal Langdon, Brianne Andrea Lund Yanderi Montano, CPA Jonny Newburgh Anne Robinson Adrian Ruiz Donald Sabine, CPA @Amanda Fenton Jeff Gaulin Jasmin Boodaie Dan Budihardjo Beth Bergman Adriana Capacete Cabassa Licenciada Itza M. García-Rodríguez @Sergio Sanchez
