Ft. Worth, Texas
- $39M Hospital Administration Building
- $4.1M Net NMTC Benefit
- Created 60 Full Time Positions
- Created 250 Construction Positions
- Relocated 370 employees from a non qualified community to a qualified low income community
- 30%+ Poverty Rate
HWH Group served as New Market Tax Credit (NMTC) transaction manager for a major nonprofit hospital group, securing over $25M in NMTC financing for the $39M project, and generating $4.1M of net NMTC funding to reduce construction costs and help make the initiative possible. The investment created a new five story, 120,000 square foot building located in heart of a medical district and a Highly Distressed New Markets Tax Credit Census Tract. The project is a major financial driver for the entire organization, as the consolidation of personnel and new centralized location increases efficiency and productivity, and paves the way for future investments. Plus, the continuation of services is vital to the health and progress of the region.
HWH Group secured a highly competitive rate for the NMTC equity in the transaction, sourcing the participation of three major Community Development Entities (CDEs), and managing all aspects of the transaction through closing.