Marcum Outshines One of the Nation’s Largest Providers of Historic Tax Credit Work
About the Client
With headquarters in Philadelphia, this established real estate development, investment, and management company focuses on residential mixed-use and industrial outdoor storage facilities. Very active in their market, over the last 15 years the company has completed scores of transactions in more than 15 states with some of the largest private equity, alternative asset management and financial services companies in the United States.
THE CHALLENGE
A Marcum client for more than several years, the company has been very happy with our work. For the highly specialized area of commercial real estate historic tax credits (HTC), however, they’d been using one of the nation’s largest providers. Recently the real estate company was less than happy with their HTC provider’s level of service. After learning about Marcum’s HTC capabilities, the company decided to give Marcum a chance at the work. Not only did Marcum professionals have to prove they could perform the highly technical work at a competitive price but Marcum also had to provide a higher level of service than they’d been used to with their current provider.
THE GOAL
- Provide highly specialized real estate historic tax credit services at a competitive price.
- Ensure our client experienced a smooth, seamless process that helped them achieve the best possible outcome with terms aligned with their investors’ goals.
- Help the company obtain meaningful funding through the historic tax credit program.
THE PROCESS
The goal was to get the opportunity, and provide the service at a high level at a competitive price.
THE SOLUTION
Upon the engagement’s completion, our client was very pleased with the outcome. Proof positive of the engagement’s success is that our client continues to provide us with additional HTC engagements. In addition, the company has spoken very highly of Marcum and HTC team to other real estate developers.