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Company History
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Since 1998,
Newport Partners has placed over
$420 million in tax credit
equity and closed over 85
projects. Starting in the
area of tax credit syndication
for select institutional
investors, our business has
grown. In addition to
providing asset management and
tax credit consulting services,
we are also seeking renewable
energy production tax credits (PTC's)
while developing tax credit
qualifying projects with our
clients. |
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In 2001, we
formed a joint venture with
Alliant Capital, Ltd., whereby
we originate, close, and asset
manage LIHTC projects under the
Alliant Capital marketing
umbrella. Alliant Capital
is annually one of the largest
tax credit syndication firms in
the country. |
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In 2003, we
formed several real estate
development partnerships to
develop market rate affordable
and low income tax credit
properties. |
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In 2004, we
acted as a financial advisor to
the developer of a 35 MW closed
loop biomass project and
subsequent sale of the project
to the cities of Virginia and
Hibbing, Minnesota. |
Our People
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Jong Limb is the
President and founder of Newport
Partners, LLC based in Irvine,
California. Mr. Limb has
been involved with the tax
credit industry since 1988,
serving as President for one of
the largest direct corporate tax
credit investment programs in
the country. Mr. Limb
formed Newport in 1998, sourcing
tax credit investments on behalf
of institutional investors and
providing consulting services
for developers of affordable
housing projects. Prior to
1988, Mr. Limb worked for San
Diego Gas and Electric with
responsibilities over pension
investments. Mr. Limb has
a bachelor degree in Accounting
and Economics from New York
University and an MBA with an
emphasis in Finance from the
University of San Diego. |
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Monique Hastings is Vice
President and co-founder of Newport Partners,
LLC and is responsible for the
investment execution process
including due diligence,
negotiation, and closing
of investment transactions.
Previously, she
was Director of Property
Investment and Asset Management
for a national direct tax credit
investment program where she
managed their east coast office
and presided over $200 million
of equity closings and oversaw
the asset management of over
16,000 units. Prior to
1993, Ms. Hastings was a
Property Development Manager for
an electric utility land
subsidiary. She also spent
four years in public accounting.
Ms. Hastings has a Bachelor of
Arts degree in Business
Administration with an emphasis
in Accounting from California
State University, Fullerton. |
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John Carroll is a Vice
President of Newport Partners,
LLC, responsible for
relationship management,
investment identification,
structuring and acquiring of tax
credit investments. A
co-founder of Newport, he has 20
years of structured finance
experience with a variety of
debt, equity, and off balance
sheet transactions for a diverse
range of industries and
customers. Mr. Carroll was
previously a Director of a
utility investment company where
over an 8-year period he served
as a Vice President of a Vendor
Finance/Energy Services business
unit and headed the Corporate
Finance, Credit, and Asset
Management departments.
Prior to 1990, Mr. Carroll
worked in the corporate finance,
municipal finance, and project
finance areas for Bank of
America, The Fuji Bank, Ltd. and
as Vice President for ABN-AMRO
Bank. Mr. Carroll has a
Bachelor of Science degree in
Finance from the University of
Southern California. |
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Warren Allen is a Vice
President of Newport Partners. Prior to joining
Newport, Mr. Allen served as
Controller for a $15 million
division of a multi-national
plastics manufacturing firm in
Southern California. Mr.
Allen previously spent four
years with a national tax credit
investment and syndication firm,
serving as Manager of Investment
Analysis. Mr. Allen has a
Bachelor of Arts degree in
Business Administration with a
concentration in Finance from
California State University,
Fullerton and an MBA with an
emphasis in Finance from the
University of Southern
California. |
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