Loan Type: NMTC Source Loan
Total Development Cost: $13,327,226
Times leveraged: 5.3x
Loan at a Glance:
In collaboration with Community Vision (CV), Partners contributed $2.5 million to a $7.6 million NMTC source loan that is financing the acquisition and renovation of Hamilton Families’ new permanent headquarters in San Francisco. This marks Partners’ sixth loan participation with CV and the second NMTC source loan participation with CV.
Borrower Summary:
Hamilton Families is the largest nonprofit dedicated to aiding families experiencing homelessness in San Francisco, with a mission focused on ending family homelessness in the area. Offering a comprehensive array of services ranging from eviction prevention to shelter provision and transitional housing, Hamilton Families also facilitates rapid re-housing, real estate partnerships, and programs tailored for children and youth. With a holistic, family- centered approach, Hamilton Families strives to secure stable housing for its clients.
Project Summary:
Hamilton Families, a California nonprofit public benefit corporation, acquired and is refurbishing a 15,017 square foot building to be used as Hamilton Families’ new headquarters.
Loan Result:
In connection with a NMTC funding structure, this loan provided acquisition and rehabilitation financing for Hamilton Families’ new headquarters facility, which will consolidate and expand existing administrative and programing offices into one location. Hamilton Families needed to secure a new headquarters due to soaring rent prices at their old facilities. The new headquarters is a substantial upgrade and will enable Hamilton Families to consolidate and expand its administrative and program offices under one roof. With an annual outreach to nearly 900 families, Hamilton Families serves a diverse community where 78% identify as women, 36% as Black, and 35% as Hispanic or Latino.