Marcus Reinvestment Strategies (MRS) was founded in 2011 by Paul Marcus with a focus on working with lenders, developers, and government agencies to direct resources where they will leverage financial, social and programmatic benefits. With a background of more than 20 years working in real estate development and community development finance, we believe that a smart approach to the investment of limited public and capital resources can generate an economic return along with the social benefits as required by social and governmental investment.
MRS provides an array of services to non-profit lenders and governments to define their funding and incentive strategies. For many years, we have worked on the ground with lenders such as the Local Initiatives Support Corporation (LISC) to identify financing and investment opportunities in Philadelphia focused on residential and non-residential projects. We have worked with the NCALL Loan Fund in the Delmarva peninsula, which finances real estate, housing and community facility projects in Delaware, Maryland and Virginia. We are also providing full-scale management services, including fund management and fundraising to the Impact Loan Fund, a geographically focused, business oriented loan fund.
We have also worked on identifying equity investment opportunities for New Markets Tax Credits and Low-income Housing Tax Credits. The Financing services are supported by Paul Marcus past experience as Vice President for Community Development Finance at Citizens Bank. His role there included managing real estate development transactions in Pennsylvania, Delaware, and South Jersey.
Underwrote a $1.1 million investment to finance the acquisition of a labor staffing business in Philadelphia to provide 700 jobs to homeless or formerly incarcerated individuals. We also administer a $950,000 quasi-equity investment in this project.
Delivered $700,000 in construction and bridge financing to renovate a mixed use project in the heart of Milford, Delaware
Provided $2.7 million in Financing for the new location of an independent school serving 200 low-income children in North Philadelphia
Underwrote a $3.2 million loan to support a Transit-Oriented Development project and create a multi-tenant social service building which will consolidate offices of human services agencies and create a 150 child daycare facility
Closed on a $6,000,000 in construction/permanent financign for a mixed use commercial space and $1.3 million in permanent financing for a 38 unit LIHTC housing project
Secured a CDFI Fund Technical Assistance grant to support 2 years of operations at a small CDFI
Underwrote $2.9 million in financing of a NMTC project to provide 85,000 sf of maker space in an underseved area in Queens.
Provided $2.8 million in financing for the renovation of 4 buildngs in West Center City Wilmington, DE to create 10 residential units and more than 10,000 sf of formerly vacant retail.
First Step Staffing from Atlanta has piloted a simple but effective model to provide a first step back into employment for homeless and returning citizens in Atlanta where they serve 1000 individuals per day. In 2018 they brought that model to Philadelphia. With the participation of multiple parties, the CDFI community, homeless service providers and social investment community, helped make this occur. First Step Staffing (FSS) acquired a local labor staffing agency in Philadelphia to operate a second location of their staffing business (after Atlanta) with more on the way. FSS now controls about 600 jobs per day in Philadelphia where they will be placing the homeless clients or returning citizens, providing transportation to the sites and ensuring that they have the supports they need to stay in the job. FSS believes that earning a wage is the first step to providing a path back into society.
Marcus Reinvestment Strategies was pleased to work with 2 of our clients to make this happen. MRS underwrote the senior financing for LISC's participation of $1.2 million in the senior financing. MRS also worked with Impact Loan Fund to commit $75,000 of subordinate, social investment capital, to help create the equity-like cushion needed for the project.