NATIONAL EQUITY FUND


Associated tags: Housing, National Equity Fund, Inc., LIHTC, NEF, Local Initiatives Support Corporation, LISC, Bank, Low-Income Housing Tax Credit

Locations: ILLINOIS, MASSACHUSETTS, NEW JERSEY, CONNECTICUT, RHODE ISLAND

NeighborWorks Capital and National Equity Fund Announce LIHTC Equity Fund to Empower Partner Organizations

Retrieved on: 
Tuesday, April 16, 2024
Negotiation, Housing, Community development financial institution, Innovation, Partnership, National Equity Fund, Inc., Environment, LIHTC, NEF, Community development, CDFI, Organization, NeighborWorks America

CHICAGO, April 16, 2024 /PRNewswire/ -- NeighborWorks Capital, a national non-profit Community Development Financial Institution (CDFI), has partnered with National Equity Fund (NEF), a leading non-profit multi-family, affordable, real estate investment manager, to launch the NeighborWorks Capital Equity Fund. This first-of-its-kind equity fund will provide high-performing community-based non-profit organizations with a set of standardized, equitable Low-Income Housing Tax Credit (LIHTC) terms. The creation of this fund stems from NeighborWorks Capital's desire to provide NeighborWorks network organizations with access to equitable, consistent capital and NEF's aligned mission.

Key Points: 
  • CHICAGO, April 16, 2024 /PRNewswire/ -- NeighborWorks Capital, a national non-profit Community Development Financial Institution (CDFI), has partnered with National Equity Fund (NEF), a leading non-profit multi-family, affordable, real estate investment manager, to launch the NeighborWorks Capital Equity Fund.
  • The creation of this fund stems from NeighborWorks Capital's desire to provide NeighborWorks network organizations with access to equitable, consistent capital and NEF's aligned mission.
  • "The idea to create a LIHTC fund for NeighborWorks organizations came from my time leading a syndication business," said Jim Peffley, CEO of NeighborWorks Capital.
  • The NeighborWorks Capital Equity Fund allows us to provide partner organizations with LIHTC terms that will positively impact the development of more affordable housing across the country for families in need."

National Equity Fund (NEF) Announces Nearly $2 Billion in Affordable Housing Investments for 2023 with record Low-Income Housing Tax Credits (LIHTC) production

Retrieved on: 
Thursday, January 25, 2024
NEF, Housing, MPEG, Investment, Acquisition, Workforce, National Equity Fund, Inc., Renewable energy

CHICAGO, Jan. 25, 2024 /PRNewswire/ -- National Equity Fund (NEF) provided a strong year of financing to support the creation and preservation of affordable homes across the country, prevailing against major economic and financial disruptions that impacted the industry throughout 2023. For the full year, the nonprofit raised and deployed nearly $2 billion in affordable housing investments, including a record-level of financing for LIHTC-specific equity at more than $1.43 billion and nearly $425 million in preservation lending and workforce housing investments.

Key Points: 
  • CHICAGO, Jan. 25, 2024 /PRNewswire/ -- National Equity Fund (NEF) provided a strong year of financing to support the creation and preservation of affordable homes across the country, prevailing against major economic and financial disruptions that impacted the industry throughout 2023.
  • For the full year, the nonprofit raised and deployed nearly $2 billion in affordable housing investments, including a record-level of financing for LIHTC-specific equity at more than $1.43 billion and nearly $425 million in preservation lending and workforce housing investments.
  • In line with its mission to find innovative ways to fund affordable housing, NEF deployed $70 million through its Emerging Minority Developer Fund (EMDF), which helps facilitate LIHTC access for affordable housing developers of color.
  • The 2023 investment through EMDF will create 323 total units of affordable housing in eight developments across eight different states.

National Equity Fund Closes Inaugural Northeast Fund

Retrieved on: 
Thursday, January 18, 2024
Housing, National Equity Fund, Inc., Investment, NEF, Management

CHICAGO, Jan. 18, 2024 /PRNewswire/ -- National Equity Fund (NEF), a leading nonprofit multi-family, affordable, real estate investment manager announced the closing of its inaugural Northeast Fund. Through the fund, which closed at the end of 2023, NEF raised $122.5 million, which will finance eight Low-Income Housing Tax Credit (LIHTC) developments throughout the Northeast. Once completed, the eight developments will bring 571 high quality, affordable homes to four states: Connecticut, Massachusetts, New Jersey, and Rhode Island.

Key Points: 
  • CHICAGO, Jan. 18, 2024 /PRNewswire/ -- National Equity Fund (NEF), a leading nonprofit multi-family, affordable, real estate investment manager announced the closing of its inaugural Northeast Fund.
  • Through the fund, which closed at the end of 2023, NEF raised $122.5 million, which will finance eight Low-Income Housing Tax Credit (LIHTC) developments throughout the Northeast.
  • The Northeast Fund brought in nine regionally focused investor partners to collaborate and contribute.
  • The success of NEF's inaugural Northeast fund provides the organization with more opportunities to expand regional equity and enhance regional funds in the future.

National Equity Fund Expands Presence in West with Acquisition of Mountain Plains Equity Group

Retrieved on: 
Wednesday, October 25, 2023
Ageing, Housing, National Equity Fund, Inc., Acceptance, Acquisition, NEF, MPEG, Equity Group Holdings, Disability, Investment, Property management, Financial services, LIHTC

CHICAGO, Oct. 25, 2023 /PRNewswire/ -- National Equity Fund (NEF), a leading nonprofit multi-family, affordable, real estate investment manager has expanded its reach in the west with the acquisition of the assets of Mountain Plains Equity Group, Inc. (MPEG), including the ownership of MPEG Acceptance Corporation (Acceptance Corp.). Based in Billings, Montana, MPEG began operations as a small Low-Income Housing Tax Credit (LIHTC) syndicator in August 2003 and has been responsible for the development of affordable housing primarily in six states: Alaska, Colorado, Montana, North Dakota, South Dakota and Wyoming.  Acceptance Corp. was created by MPEG to act as a project level investment entity and routinely serves as a special limited partner in LIHTC project partnerships.

Key Points: 
  • CHICAGO, Oct. 25, 2023 /PRNewswire/ -- National Equity Fund (NEF), a leading nonprofit multi-family, affordable, real estate investment manager has expanded its reach in the west with the acquisition of the assets of Mountain Plains Equity Group, Inc. (MPEG), including the ownership of MPEG Acceptance Corporation (Acceptance Corp.).
  • "The acquisition of Mountain Plains Equity Group allows us direct access to build a presence in states where NEF has not traditionally had a large market share.
  • With the acquisition, NEF now manages six new private equity funds that hold a total of 49 LIHTC properties.
  • "The mission of Mountain Plains Equity Group directly correlates to NEF's mission to create and deliver innovative, collaborative financial solutions to expand the creation and preservation of affordable housing," said Reilein.

National Equity Fund (NEF) Announces Promotions and Expanded Roles for Key Senior Leaders

Retrieved on: 
Friday, May 12, 2023
Housing, Senior, Capital market, Head, Record, Innovation, Equity, Strategic planning, NEF, National Equity Fund, Inc., LIHTC, Growth, Structured finance, Environment, GSE, Management, Financial services

CHICAGO, May 12, 2023 /PRNewswire/ -- National Equity Fund announced a new structure for senior leadership roles to further support its mission to create and deliver innovative, collaborative financial solutions to expand the creation and preservation of affordable housing. Driven by the growth of newer capabilities such as Preservation Debt and Equity and GSE Lending combined with an increasingly complex investor market for Low-Income Housing Tax Credits (LIHTC), NEF president and CEO, Matt Reilein, made the announcement to expand and create new leadership roles with existing employees. This new structure will streamline and optimize how NEF will serve its sponsor and investor clients in support of its mission.

Key Points: 
  • CHICAGO, May 12, 2023 /PRNewswire/ -- National Equity Fund announced a new structure for senior leadership roles to further support its mission to create and deliver innovative, collaborative financial solutions to expand the creation and preservation of affordable housing.
  • This new structure will streamline and optimize how NEF will serve its sponsor and investor clients in support of its mission.
  • The following individuals have taken on expanded capabilities in the new structure:
    Reena Bramblett, Senior Vice President, has been promoted to Chief Production Officer, reporting to Matt Reilein.
  • The following key leader's roles have been expanded as follows:
    Mark Siranovic, Senior Vice President, is now the Head of Capital Markets, reflecting NEF's increased focus on capital markets executions for larger LIHTC transactions.

National Equity Fund (NEF) Announces $2.1 Billion in Affordable Housing Investments for 2022, nearly matching record performance in 2021

Retrieved on: 
Thursday, January 26, 2023
Housing, National Equity Fund, Inc., Workforce, Partnership, Freddie Mac, Federal Housing Administration, Growth, Fannie Mae, FHA, NEF, Investment, Low-Income Housing Tax Credit, Bank, LIHTC

CHICAGO, Jan. 26, 2023 /PRNewswire/ -- National Equity Fund (NEF) provided near-record levels of financing to support affordable homes across the country, despite the economic headwinds that the affordable housing industry faced in the second half of the year. The nonprofit raised and deployed more than $2.1 billion in affordable housing investments, nearly matching the record production of $2.2 billion from the previous year. The 2022 results included over $1.2 billion in LIHTC investments and nearly $900 million in preservation lending and workforce housing investments to provide housing for the nation's "missing middle". In total, these investments created and preserved 15,500 affordable homes in 2022.

Key Points: 
  • Despite continued economic and market headwinds, NEF invested over $1.2 billion in Low-Income Housing Tax Credit (LIHTC) investments and nearly $900 million to preserve existing affordable housing throughout 2022, resulting in nearly 15,500 affordable homes nationwide.
  • CHICAGO, Jan. 26, 2023 /PRNewswire/ -- National Equity Fund (NEF) provided near-record levels of financing to support affordable homes across the country, despite the economic headwinds that the affordable housing industry faced in the second half of the year.
  • The nonprofit raised and deployed more than $2.1 billion in affordable housing investments, nearly matching the record production of $2.2 billion from the previous year.
  • The 2022 results included over $1.2 billion in LIHTC investments and nearly $900 million in preservation lending and workforce housing investments to provide housing for the nation's "missing middle".

National Equity Fund and Esusu Offer Financial Well-being to Over 500,000 Residents in Affordable Housing Communities

Retrieved on: 
Tuesday, November 15, 2022
National Equity Fund, Inc., Quality of life, LISC, LIHTC, Organization, Local Initiatives Support Corporation, Partnership, Industry, Housing, Equifax, Multimedia, Low-Income Housing Tax Credit, Eviction, CEO, TransUnion, NEF, Solution, Bank, Property management, Experian

CHICAGO, Nov. 15, 2022 /PRNewswire/ -- National Equity Fund (NEF), a leading nonprofit Low-Income Housing Tax Credit (LIHTC) syndicator and asset manager for affordable housing, is announcing a strategic partnership with Esusu Financial, Inc., the leading financial technology company leveraging rent reporting for credit building. As part of their initiative to bring a more holistic service offering to the affordable housing industry, National Equity Fund has made a corporate investment in Esusu. 

Key Points: 
  • CHICAGO, Nov. 15, 2022 /PRNewswire/ -- National Equity Fund (NEF), a leading nonprofit Low-Income Housing Tax Credit (LIHTC) syndicator and asset manager for affordable housing, is announcing a strategic partnership with Esusu Financial, Inc., the leading financial technology company leveraging rent reporting for credit building.
  • As part of their initiative to bring a more holistic service offering to the affordable housing industry, National Equity Fund has made a corporate investment in Esusu.
  • "We are excited to take our more than three-decade commitment of delivering innovative, collaborative financial solutions to expand the creation and preservation of affordable housing to the next level through this partnership," said Matt Reilein, president and CEO of National Equity Fund.
  • Esusu is the leading financial technology platform that leverages data solutions to empower residents and improve property performance.

National Equity Fund (NEF) Announces a Record $2.2 Billion in Investments for 2021 and Celebrates 35 Years of Commitment to Affordable Housing

Retrieved on: 
Thursday, January 20, 2022
People, Local Initiatives Support Corporation, National Equity Fund, Inc., Growth, CEO, NEF, Local, Tax reform, History, Housing, SVP, Tax Reform Act of 1986, BIPOC, LISC, Multimedia, IRS, Investment, COVID, Renewable energy, LIHTC

CHICAGO, Jan. 20, 2022 /PRNewswire/ --In 2021, National Equity Fund (NEF) had its strongest performance throughout its 35-year history.

Key Points: 
  • CHICAGO, Jan. 20, 2022 /PRNewswire/ --In 2021, National Equity Fund (NEF) had its strongest performance throughout its 35-year history.
  • The nonprofit raised and deployed a record-breaking $2.2 billion in affordable housing investments, which included a record $1.23 billion in LIHTC investments and a record $930 million in affordable housing preservation lending.
  • In total, these investments created and preserved 13,550 affordable homes in 2021.
  • National Equity Fund was founded by its affiliate Local Initiatives Support Corporation (LISC), on January 9, 1987.

National Equity Fund Closes $85 Million in Committed Capital for its Emerging Minority Developer Fund (EMDF) to Stand up to Racism and Empower Emerging BIPOC Low-Income Housing Tax Credit (LIHTC) Developers

Retrieved on: 
Wednesday, November 3, 2021
People, BMO Harris Bank, SVP, Housing, BIPOC, National Equity Fund, Inc., PNC Financial Services, Local Initiatives Support Corporation, Partnership, Fifth Third Bank, Comerica, CIBC, KeyBank, Truist Financial, Ally Financial, LISC, Investment, CEO, Multimedia, Investor relations, U.S. Bank Center (Milwaukee), Low-Income Housing Tax Credit, LIHTC, NEF, Racism, Fund, Security (finance), Bank

CHICAGO, Nov. 3, 2021 /PRNewswire/ --This week, National Equity Fund (NEF) closed an initial $85 million in investor commitments for its Emerging Minority Developer Fund (EMDF).

Key Points: 
  • CHICAGO, Nov. 3, 2021 /PRNewswire/ --This week, National Equity Fund (NEF) closed an initial $85 million in investor commitments for its Emerging Minority Developer Fund (EMDF).
  • "Our partnership with National Equity Fund will help support this fund that removes barriers and uplifts businesses who positively impact individuals and families through affordable housing initiatives."
  • "We are committed to solving the nationwide affordable housing crisis and we are incredibly proud to be involved in this first-of-its-kind fund."
  • "Our definition of success is not getting the first fund closed," said Mark Siranovic, head of Investor Relations for NEF.

National Equity Fund and Pacific Crest Affordable Housing Partner to Create 96 Units of Much Needed Affordable Housing in High-Rent Bend, Oregon using Low-Income Housing Tax Credits

Retrieved on: 
Tuesday, October 26, 2021
Rehabilitation, Housing, City, HUD, Empire.Kred, National Equity Fund, Inc., Workforce, Local Initiatives Support Corporation, Partnership, Ageing, View, Community service, Federal, Pacific Crest, Income, LISC, LLC, Investment, Multimedia, Friends, Solution, Acquisition, First Interstate Bank, Oregon Housing and Community Services Department, Population, NEF, Renewable energy, Real estate

Phase two is expected to be completed in October 2022 providing the additional 48 units.

Key Points: 
  • Phase two is expected to be completed in October 2022 providing the additional 48 units.
  • This translates to monthly estimated rents ranging from $431 - $1,089 (based on HUD figures which change slightly from year to year), with all utilities included.
  • National Equity Fund, Inc., based in Chicago, IL is a nonprofit affordable housing investor and one of the nation's largest syndicators of Federal Low-Income Housing Tax Credits.
  • Pacific Crest Affordable Housing, LLC is an award-winning developer of high-quality housing for low-income tenants in Central Oregon.