Mercy Care Decatur Street Clinic
SB Friedman structured and closed $22 million in NMTC financing to support the renovation and expansion of Mercy Care's Decatur Street Clinic, doubling the facility's capacity to serve patients experiencing homelessness in Atlanta.
Mercy Care
Atlanta, GA
Mercy Care, a Federally Qualified Health Center and designated Health Care for the Homeless provider, delivers primary health care, integrated behavioral health, prenatal education, and case management services to low-income patients. The project involved the renovation of its existing 37,000-SF clinic and construction of a new 37,000-SF facility, adding exam rooms, a pharmacy, and a resource center housing co-located social service agencies. The project is also part of a broader transit-oriented development featuring 280 units of affordable multifamily and senior housing.
Works Completed
Marketed the project to a national range of NMTC financing providers focused on homeless services and health care
Secured $16 million in NMTC allocation from a single CDE making its first investment in Georgia
Negotiated top-of-market NMTC equity pricing and allocation from the tax credit investor to supplement the third-party CDE's allocation
Coordinated NMTC funding with capital campaign proceeds and a bridge loan facility
Led an efficient and smooth closing process
Results
Construction began in Spring 2021 and was completed in early 2022. The expanded Mercy Care Decatur Street Clinic is now fully operational, providing a comprehensive suite of health and social services to patients experiencing homelessness in Atlanta.
