SunTrust Community Capital invests in newly constructed sports and health facility, generating federal new markets tax credits
Clients SunTrust Community Capital, LLC
Jones Day represented SunTrust Community Capital, LLC (STCC) in connection with the financing of a newly constructed sports and health facility containing approx. 120,000 square feet of enclosed athletic courts, medical space, and six outdoor multipurpose fields. The transaction, located in a highly distressed census tract, generated federal new markets tax credits and involved an investment by STCC in its own wholly-owned community development entity (CDE) and in a third party CDE.