STCE Announces New Name and Executive Director of Federal Historic Tax Credits
Atlanta, GA, September 8, 2016 (Newswire.com) - State Tax Credit Exchange (STCE) is excited to welcome NGP Capital, a national syndicator and advisor of Federal and state tax credit investments, into the firm. The two firms will join forces to create a significant historic tax credit syndication business of national scope. Both STCE and NGP Capital have previously operated robust historic tax credit syndication businesses. By merging their combined organizations there will be significant synergies through expanded access to capital, contacts and expertise. Rick Chukas will become the Managing Director of Monarch’s Federal Historic Tax Credits and will lead that segment of business from Nashville, TN.
This combination continues the progression of STCE beyond state tax credits and into more diverse opportunities. In August, STCE officially became Monarch Private Capital, a move that provides the flexibility to represent the firm’s efforts in new investment areas, expanded federal credit offerings and new partnerships. Monarch Private Capital is more reflective of the opportunities where the firm is increasing its direct investment in projects delivering high quality state and federal tax credits, as well as non-credit investments. Its tax credit business will operate under the banner of Monarch Tax Credits.
"We've outgrown our core business and have realized opportunities where we can leverage the experience and knowledge of our people to grow into new markets."
George Strobel, Managing Director and Co-Owner of STCE
“We’ve outgrown our core business and have realized opportunities where we can leverage the experience and knowledge of our people to grow into new markets,” said George Strobel, Managing Director and Co-Owner of STCE. “This will directly benefit our clients.”
“We are thrilled to bring Rick Chukas on board as our Managing Director of Federal Historic Tax Credits,” said Strobel. “Rick and his firm have partnered with STCE for many years. The synergies between the two firms further solidifies our national growth. I’ve known Rick for over thirty years and we were partners together at Arthur Andersen. He is a terrific real estate expert. It’s great to have the opportunity to partner with Rick again”
“I’m excited about combining the capabilities and platforms of STCE and NGP Capital and helping lead Monarch’s federal historic tax group into the future,” said Chukas.
Along with the name change, the company will adopt a new corporate identity, including a new logo and visual identity and web presence. The changes officially went into effective in August. All future business activity will be undertaken with the new name.
About State Tax Credit Exchange (Monarch Private Capital)
Founded in 2004, State Tax Credit Exchange (STCE) is a financial services company that provides federal and state tax credit solutions to Fortune 500 companies, high-net-worth individuals and businesses to lower their federal and/or state tax liabilities. We are a strong and stable clearinghouse for one-year and multi-year credit streams, delivering customized, low-risk, tax-saving solutions to clients.
Our experienced tax credit team represents the best in class within their respective fields, which include big five accounting, investment banking and underwriting, real estate development, tax incentives and economic development. Our long-standing presence, strong relationships and professional integrity generates repeat clients with both tax credit originators and buyers. Our experts tailor tax credit solutions to meet the specific needs of each client and maximize federal and state tax credit benefits.
STCE is headquartered in Atlanta, and has offices in Charlotte, St. Louis, Nashville and Sarasota.
About NGP Capital
NGP Capital has been a national syndicator and advisor of Federal and State Tax Credit Investments. The NGP Capital team brings a unique combination of exceptional skills and resources to bear on each tax credit investment opportunity. The advisors of NGP Capital are defined by their in-depth knowledge and meticulous attention to detail similar in manner with how the architectural and historic significance of a building is defined - by its most unique and intricate elements. Their blend of skills and knowledge coupled with thorough execution enables the successful closing of transactions while preserving the uniqueness of each project. NGP Capital has developed a well earned national reputation for quality work in the federal historic syndication business.
Contact:
Katie Mobley
State Tax Credit Exchange
3414 Peachtree Road, Suite 825
Atlanta, GA 30326
Source: STCE