CityScape Capital Group

What CityScape Capital Group does

CityScape Capital Group, LLC is a privately held boutique investment banking firm founded in 1992 and headquartered in Princeton, New Jersey, with additional regional offices in El Segundo, California and Delray Beach, Florida. The firm specializes in tax credit equity financing for three asset categories: historic rehabilitation (under IRC Section 47, offering a 20% federal credit), new markets tax credits (via its CDE-designated affiliate CCG Community Partners, LLC, which has received twelve NMTC allocations totaling $515 million since 2005), and solar energy tax credits (offering a 30% federal credit under the Energy Policy Act of 2005). Tax credit investments are executed through two internally managed fund families—CCG Historic Partners Funds (est. 2002) and CCG Energy Partners Funds (est. 2008)—as well as the affiliate CDE vehicle, with transactions ranging from $400,000 to over $25 million in tax credit size. Since 1992, the firm and its principals have facilitated over $1.5 billion in tax credit equity placement on behalf of institutional investors including major U.S. banks (Bank of America, JPMorgan Chase, Wells Fargo, PNC, U.S. Bank, Hancock, Iberiabank).

The firm's business model combines fee-for-service advisory with direct equity placement. Revenue streams include transaction fees on tax credit syndications, fund management fees on the CCG Historic & Energy Partners Funds, and asset management fees for ongoing tax credit compliance, monitoring, and reporting. In a more recent line of business, CityScape offers Commercial PACE (Property Assessed Clean Energy) financing—non-recourse loans ranging from $500,000 to $25 million+ at the 20-Year Treasury rate plus 380-420 basis points, with 1-3% financing fees and 10-30 year terms—for energy efficiency, solar, and water conservation improvements to commercial, multifamily, industrial, and hospitality properties, distributed in part through approved PACE lender partners. Ancillary professional services include deal origination, financial projection preparation, due diligence, negotiation, closing, funding, and ongoing asset management.

The go-to-market motion is consultative and relationship-driven: senior Managing Directors (Paul M. Hoffman, William L. Hoffman, Robert A. Plotka, plus CIO Jeff B. Swartz and CCO Matt W. Workman) engage institutional investors and property developers through direct outreach, professional networks, and industry associations, supported by content marketing through the firm's website. Customer segments include institutional investors (pension funds, insurance companies), community development entities, commercial property owners seeking PACE financing, and real estate developers of market-rate apartments, boutique hotels, commercial office/retail, and charter schools. The firm is privately held by its three co-founder Managing Directors with no disclosed external institutional ownership.

Name

CityScape Capital Group

Legal name

CityScape Capital Group, LLC

Website

https://cityscapecapital.com

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

1–10 employees

Short description

CityScape Capital Group is a Princeton-based boutique investment banking firm (founded 1992) that originates and places tax credit equity for historic rehabilitation, new markets, and solar energy projects, and provides commercial PACE financing, serving institutional investors and commercial property owners.

Ownership category

akta.pro rank

Product category

Tax Credit Investment Banking

NAICS

Other Financial Investment Activities (5239), Funds, Trusts, and Other Financial Vehicles (525), Portfolio Management and Investment Advice (523940)

SIC

Investors, Nec (6799), Miscellaneous Business Credit Institution (6159), Federal & Federally-Sponsored Credit Agencies (6111)

akta.pro primary industry

Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing) (BPAJANAE)

akta.pro secondary industries

Capital Markets Advisory (Equity Placement, JV & Recapitalization) (BPAJABAL), Capital Planning, Portfolio & Lifecycle Asset Management (EAM/CMMS) (EUAEAMAL), Sustainable Infrastructure & Resilient Cities Funds (FSANAJAC), Municipal & Public Finance Credit (FSAHAGAJ), Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG)

Keywords

• Tax credit financing
• Historic rehabilitation credits
• New markets tax credits
• Solar energy tax credits
• PACE financing

Headquarters

HQ city

Princeton

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Tax Credit Acquisition and Syndication: ACG acquires tax credits through its series of CCG Historic & Energy Partners Funds and facilitates direct transfers of tax credits to institutional clients. Revenue generated through transaction fees, fund management, and placement of tax credit equity financing.
2. PACE Financing: Provides C-PACE financing to large-scale facilities. Generates revenue through financing fees (1%-3%) on loans ranging from $500,000 to $25,000,000+. Interest income from 20-year Treasury + 380-420 basis points fixed rate loans with 10-30 year terms.
3. Advisory and Asset Management Services: Provides value-added advisory services including transactional capacity evaluations, regulatory concerns, internal control and accounting issues, strategy and business planning, and tax credit portfolio sales. Services include deal origination and structuring, financial projection preparation, due diligence, negotiation, closing and funding services, and asset management and reporting.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

CityScape Capital Group is a boutique investment banking firm that provides direct equity investment for historic rehabilitation, new markets, and solar energy tax credit transactions through its CCG Historic & Energy Partners Funds. It also provides C-PACE financing for commercial property energy improvements and offers advisory services including deal origination, structuring, due diligence, negotiation, closing, and asset management.

Product overview

CityScape Capital Group is a boutique investment banking firm offering a suite of tax credit equity investment products and financing services. The core portfolio consists of three tax credit investment vehicles — CCG Historic Partners Funds (historic rehabilitation, est. 2002), CCG Energy Partners Funds (solar energy, est. 2008), and CCG Community Partners, LLC (new markets tax credits) — which acquire tax credits on behalf of institutional clients. Additionally, the firm offers PACE (Property Assessed Clean Energy) financing for energy efficiency and renewable energy improvements to commercial properties. Services include deal origination, structuring, due diligence, and asset management. The products share a common focus on tax credit financing and real estate development, with funds managed through a unified investment team.

Differentiator

Problem solved

Functional benefit

Products and services

• Historic Rehabilitation Tax Credits (CCG Historic Partners Funds) Direct equity investment in historic rehabilitation tax credit projects throughout the country, offering the 20% federal historic rehabilitation tax credit under IRC Section 47 to encourage preservation and adaptive reuse of historic buildings. Projects range from $400,000 to over $25 million in tax credits and include market rate apartments, boutique hotels, commercial office/retail, and charter schools.
• New Markets Tax Credits (CCG Community Partners, LLC) Investment capital through a designated Community Development Entity in the form of medium and long-term primary mortgages, medium-term mezzanine financing, and traditional equity investments for businesses and commercial properties in qualified low-income communities. Twelve NMTC Allocations totaling $515 million have been awarded since 2005.
• Solar Energy Tax Credits (CCG Energy Partners Funds) Investment in solar energy tax credit projects throughout the country, providing the 30% federal income tax credit (under the federal Energy Policy Act of 2005) for solar energy equipment and installation expenditures for qualified commercial systems including solar photovoltaic, solar water heating, and solar lighting systems.
• PACE Financing Property Assessed Clean Energy (PACE) financing providing long-term, fixed-rate financing for 100% of upfront costs of energy efficiency, solar energy, and water conservation improvements to commercial properties. Loan sizes range from $500,000 to $25,000,000+ with terms of 10-30 years, rates at 20-Year Treasury + 380-420 BPS fixed at closing, fully amortized, with 1%-3% financing fees. Maximum loan size is 25% of As-Complete FMV, max leverage 95% of As-Complete FMV, non-recourse after construction completion, secured by special assessment on property. Property types include commercial, multi-family, industrial, and hospitality.
• Client Professional Services Comprehensive advisory services including deal origination and structuring, financial projection preparation, internal work document production, due diligence examination, negotiation, closing and funding services, and asset management and reporting. Provides value-added advisory on transactional capacity evaluations, regulatory concerns, internal control and accounting issues, strategy and business planning, and tax credit portfolio sales.

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Approved PACE LenderscoreChannel Partner/ Reseller/ DistributorCCG has partnered with approved PACE lenders to provide long-term, fixed rate financing for 100% of the upfront costs of energy efficiency, solar energy and water conservation improvements to commercial properties. PACE loan sizes range from $500,000 to $25,000,000+.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Pace Equity: A direct C-PACE financing competitor offering commercial property-assessed clean energy loans in similar size ranges and long-term fixed-rate structures as CCG's PACE financing product.
• National Trust Community Investment Corporation (NTCIC): A direct competitor in historic rehabilitation and solar tax credit syndication, operating similar CCG-style fund vehicles for institutional investors and serving the same tax credit equity market with comparable deal structures.
• Enterprise Community Partners: A large designated Community Development Entity that competes directly with CCG Community Partners in NMTC allocations and deploys tax credit equity into low-income community developments nationwide.
• Local Initiatives Support Corporation (LISC): A major CDE and NMTC allocator with overlapping community development lending and tax credit equity placement activities, targeting similar institutional investors and low-income community development projects.
• Reinvestment Fund: A designated Community Development Entity and CDFI that competes with CCG for NMTC allocations and deploys impact capital in underserved communities using comparable mezzanine and equity structures.
• Petros PACE (formerly Greenworks Lending): A leading C-PACE capital provider competing with CCG's PACE financing offering for energy efficiency and renewable energy improvements on commercial, multi-family, and industrial properties.

Emerging players

• CNote: An emerging impact-investing platform channeling capital to CDFIs and CDEs, representing a newer technology-enabled distribution channel that competes for institutional impact capital that might otherwise flow to CCG-style fund vehicles.

Broad incumbents

• Wells Fargo Community Development and Lending: A large bank that is both a CCG investment partner and a competing originator of NMTC, historic, and affordable housing tax credit equity placements for institutional clients.
• PNC Real Estate: A major commercial bank with a substantial community development and tax credit equity practice that overlaps with CCG's historic, NMTC, and solar tax credit syndication activities.
• JPMorgan Chase Community Development Banking: One of CCG's own investment partners and a broad incumbent in the same tax credit equity and community development lending market, with far greater scale and balance-sheet capacity.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/cityscapecapitalgroup

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CityScape Capital Group