Monge Capital on Thursday held a dual opening in downtown Newark for its headquarters and Newark Synergy, a 4,000-square-foot collaborative workspace just steps from Newark’s Broad Street Station.
Now located at 6 Atlantic St., Monge Capital is a Latino-owned firm that specializes in providing capital solutions and advisory services for large-scale, community development investments that offer both market returns for investors and social impacts for disadvantaged communities nationwide.
Newark Synergy is a fully renovated collaborative working space for industry nonprofits and businesses promoting social impact in the community development field.
Jeff Monge, the managing partner of Monge Capital, is a board member of the Real Estate Association of Latinx Professionals, a member of the Real Estate Executive Council, an advisory committee member of the Hispanic Scholarship Fund and a co-founder of Open Access, a program that increases Black and Latinx representation in the community development finance field. In 2019, he received the Él Awards from La Opinión in recognition of his professional achievements.
In addition to the ribbon-cutting ceremony, the event included a celebration of National Hispanic Heritage Month with music, art, networking and food from local restaurant Taino’s Kitchen and desserts from Borinquen Bakery.
The grand opening was attended by local civic and business leaders, including Newark municipal council President LaMonica McIver, Councilmember Patrick Council, Councilwoman Louise Scott Rountree, Invest Newark CEO and President Marcus Randolph and New Jersey Community Capital CEO Bernel Hall.
“Beyond a business accomplishment, we are celebrating responsible community development,” Monge said.
“Invest Newark is pleased to see Monge Capital not only locate their headquarters in Newark, but also create a shared space for like-minded entrepreneurs in the real estate and community finance space to grow and thrive in our city.” Randolph said.
“As the state’s largest (community development financial institution), New Jersey Community Capital is committed to empowering diverse business leaders with the capital needed to scale. Our partnership with Monge Capital represents an investment in a premier Hispanic-led financial advisory firm as well as the hundreds of MWBE businesses that it serves,” Hall added.
Monge Capital has closed over $2 billion in complex structured financial transactions and has generated thousands of construction and permanent jobs along with critical community services.
In 2018, Monge closed on one of the first Opportunity Zone deals in the nation. Before founding Monge Capital, he was senior vice principal for a minority-owned, $520 million real estate investment fund focused on developing commercial real estate in underserved urban markets. Monge also served as director of business investments for the Upper Manhattan Empowerment Zone, a $250 million public investment fund, where he oversaw investments to finance various community revitalization initiatives.
