Hosts Celebration for National Hispanic Heritage Month
Monge Capital opened their Headquarters and Newark Synergy, a 4,000 square foot collaborative workspace yesterday in downtown Newark just steps from Newark’s Broad Street Station. Located at 6 Atlantic Street, Monge Capital is a Latino-owned firm that specializes in providing capital solutions and advisory services for large-scale, community development investments that offer both market returns for investors and social impacts for disadvantaged communities nationwide. Newark Synergy is a fully renovated collaborative working space for industry non-profits and businesses promoting social impact in the community development field.
The Managing Partner of Monge Capital, Jeff Monge, is a Board Member of the Real Estate Association of Latinx Professionals, a Member of the Real Estate Executive Council, an Advisory Committee Member of the Hispanic Scholarship Fund, and a co-founder of Open Access, a program that increases Black and Latinx representation in the community development finance field. In 2019, he received the Él Awards from La Opinión in recognition of his professional achievements.
In addition to the Ribbon Cutting Ceremony, the event included a celebration of National Hispanic Heritage Month with music, art, networking, and food from local restaurant Taino’s Kitchen and desserts from Borinquen Bakery.
The Grand Opening was attended by local civic and business leaders including Newark Municipal Council President LaMonica McIver, Councilmember Patrick Council, Councilwoman Louise Scott Rountree, Marcus T. Randolph, President and CEO of Invest Newark, and Bernel Hall, CEO of New Jersey Community Capital.
“Beyond a business accomplishment, we are celebrating responsible community development,” shared Jeff Monge, Managing Partner of Monge Capital.
“Invest Newark is pleased to see Monge Capital not only locate their Headquarters in Newark but also create a shared space for likeminded entrepreneurs in the real estate and community finance space to grow and thrive in our city.” stated Marcus T. Randolph, President and CEO of Invest Newark.
“As the state’s largest CDFI, New Jersey Community Capital is committed to empowering diverse business leaders with the capital needed to scale. Our partnership with Monge Capital represents an investment in a premier Hispanic-led financial advisory firm as well as the hundreds of MWBE businesses that it serves.” shared Bernel Hall, CEO of New Jersey Community Capital.
Monge Capital has expertise in direct equity and loan investing and in leveraging public financing programs with a niche focus on New Market Tax Credits (NMTC), Historic Tax Credits, and Opportunity Zones. Recently, Monge Capital partnered with Lendistry, a fintech CDFI lender, and won $35 million in NMTC allocation to create a fund that supports minority business enterprises.
Monge Capital has closed over $2 billion in complex structured financial transactions and has generated thousands of construction and permanent jobs along with critical community services.
In 2018, Jeff closed on one of the first OZ deals in the nation. Before founding Monge Capital, Jeff was Senior Vice Principal for a minority-owned, $520 million real estate investment fund focused on developing commercial real estate in underserved urban markets. Jeff also served as Director of Business Investments for the Upper Manhattan Empowerment Zone, a $250 million public investment fund, where he oversaw investments to finance various community revitalization initiatives.
About Invest Newark
Invest Newark, the City of Newark’s Economic Development Corporation, propels the City’s strong and diverse economy, builds vibrant communities, and creates opportunities for all Newarkers. Invest Newark supports small, women and minority-owned businesses, invests in world-class internet service, spurs real estate development and executes economic development activities to produce and sustain economic growth, generate jobs and create wealth for the citizens of Newark. www.investnewark.org