The History of Newport Partners
Newport Partners is a full service real estate firm providing equity financing, development, construction and management of multi-family projects utilizing a variety of government financing sources including Low Income Housing Tax Credit (“LIHTC”) in California, Arizona, and Minnesota. The Company was formed in 1998, first to provide tax credit equity syndication to institutional investors and equity financing to developers of affordable housing. Since then, Newport Partners has expanded to develop affordable housing projects in 2003 with offices in Irvine and Sacramento, California and property management with the formation of Domus Management Company in 2007. The General Contracting affiliate NP Construction was formed in 2012 to build Newport Partners’ developments and to maintain quality control over the projects. Newport Partners is the majority and controlling shareholder in all the affiliated companies.
Jong C. Limb is the co-founder and President of Newport Partners, LLC based in Irvine, California. Mr. Limb formed Newport Partners in 1998 after ten years of growing and managing Edison Capital’s Tax Credit Investment program into over $1 billion in equity investments and 250 projects nationwide. Since establishing Newport Partners, he has additionally overseen an investment of more than $1 billion in equity investments in affordable housing tax credit projects. Mr. Limb graduated with a Bachelor of Science degree in Accounting from New York University and an MBA from the University of San Diego.
Monique R. Hastings is a co-founder and Executive Vice President Newport Partners, LLC based in Irvine, California. Ms. Hastings is responsible for the overall operations of the tax credit syndication and management of the financial closings of all Newport Partners real estate development projects. Prior to forming Newport, she was the Director of Property Investment and Asset Management for Edison Capital. Ms. Hastings has four years of public accounting experience and has a Bachelors of Arts degree from California State University, Fullerton and is a licensed Real Estate Broker.
Janice Luo is a Principal and Chief Financial Officer for Newport Partners and is responsible for all financial and tax matters for the company. She has over 30 years of financial management experience in the real estate development and manufacturing industry. Prior to joining Newport Partners, Ms. Luo worked for Payton Technology Corporation (subsidiary of Kingston Technology) as an Assistant Controller. Ms. Luo has a Bachelor of Science degree from National Cheng Chi University in Taiwan and an MBA from the University of California, Irvine.