National Equity Fund's mission is to create and deliver innovative, collaborative financial solutions to expand the creation and preservation of affordable housing. We strive to be diverse, equitable and an inclusive place to work so that our team has the experience and knowledge to effectively support our partners and communities.
Our vision is that all individuals and families across the country have access to stable, safe and affordable homes that provide a foundation for them to reach their full potential.
Enacted in 1986, the federal low-income housing tax credit (LIHTC) was created to advance the production and preservation of affordable housing. Each state allocates LIHTC to qualified affordable housing developers who then sell them to an investor, or to a tax-credit syndication fund made up of equity from one or from many investors. In return, the investors receive a credit against their federal income tax based on the size of their investments.LEARN MORE
NEF’s pre-development lending team provides critical early financing to assist our partners in developing affordable housing. Targeted pre-development funds cover a variety of development expenses, from professional fees to acquisition, including the costs of tasks that need to be completed before construction closing.LEARN MORE
NEF offers specialized financing solutions targeted to working individuals and families in the "missing middle" who are not income-eligible for LIHTC properties but struggle to find affordable housing options in neighborhoods close to job opportunities.LEARN MORE
NEF's experienced Preservation Lending team provides financing to multi-family property owners to help low-income families and individuals stay in their homes, and not be displaced as rents increase.LEARN MORE
NEF has been a pioneer in permanent supportive housing since the very first days of LIHTC. Our supportive housing leaders are advocates for the most vulnerable individuals and families, experts in the planning and operation that goes into these developments and knowledgeable about government programs and policies that can help families and individuals to thrive.LEARN MORE
NEF's Emerging Minority Developer Fund (EMDF) was designed to create access to equity capital resources to facilitate accelerated development capacity and wealth creation for Black, Indigenous and People of Color (BIPOC) developers who have not had proportionate and consistent access to LIHTC. With our investor partners, we have committed capital for the Fund well exceeding our original $100 million target.LEARN MORE
The February 12th issue of The Wall Street Journal listed the Best and Brightest Companies to Work For® in the Nation and National Equity Fund is one of the honorees! We are thrilled to be recognized by The Best and Brightest Programs as a 2023 National winner for the third year in a row.Read More
A couple of weeks ago, our partners at the Low Income Housing Institute (LIHI) celebrated the groundbreaking of the MLK Family Housing development in Seattle! This 6-story, mixed-used and early learning center will provide 148 units of affordable housing for individuals and families, specifically focusing on those at risk of displacement and earning up to 50-60 percent of the Area Median Income (AMI)Read More
“The affordable housing crisis is not going to be solved by LIHTC alone. If we’re going to try to be a leader and identify ways for capital markets to be part of the solution, we’ve got to broaden what it is we’re doing,” notes Matt Reilein, president and CEO of National Equity Fund.Read More
Congratulations to our partners at ACTION Housing on the grand opening of Flats on Forward in Pittsburgh! This 43-unit affordable housing development is the largest project ever constructed by ACTION Housing.
Located in the Squirrel Hill neighborhood of Pittsburgh, Flats on Forward is the sixth project NEF has had the honor of completing with the developer since 2013.Read More
“It’s important to recognize that these are already our neighbors. They’re living unhoused, but they’re in our communities. If we can build a beautiful apartment complex with wraparound supportive services, then they become our housed neighbor.” – PATH CEO Jennifer Hark Dietz
We are thrilled for our partners at PATH on the grand opening of the PATH Villas at 4th Street in San Jose. This development brings 94 units of affordable housing and permanent supportive housing to seniors experiencing homelessness.Read More
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...Read More
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.Read More
Congratulations to our partners at Asia Pacific Cultural Center (APCC) and Low Income Housing Institute (LIHI) on the groundbreaking of Patsy Surh Place in Tacoma, WA! The development is named after Patsy Surh O’Connell, a community leader who has been a longtime proponent of Asian and Pacific Islander (AAPI) heritage, culture, and arts throughout the region.Read More
"There is no question that we are in the eye of the perfect storm and that it will take a sustained commitment from legislators, investors, developers, and communities to right the ship. But there is a path forward: the Low-Income Housing Tax Credit (LIHTC)," Matth Reilein, President and CEO at NEF writes in Crain's Chicago Business Equity series.Read More
As 2023 wrapped up, the Cycle House groundbreaking in the Truxton Circle neighborhood of Washington D.C. marked a new beginning and hope for low- and middle-income residents in need of affordable housing. This development is a remarkable triumph for the industry in several ways.Read More
Congratulations to our partners at NeighborWorks Blackstone River Valley (formerly The Woonsocket Neighborhood Development Corporation) on breaking ground at Millrace in Woonsocket, RI last week! The event was well-attended by state and local officials, community partners as well as NEF's very own Jessica Polak and Kim Pereira.Read More
"NEF provides more than just competitive tax credit pricing and great service. They are truly committed to their partners. When I launched Excelerate Housing Group, a woman-owned development firm, they not only provided encouragement but when our team closed our first deal, they really stepped up to make the project work."
"NEF has been a trusted partner and shares our mission of helping those in need of safe, quality affordable housing. They earn our repeat business through competitive tax credit pricing, strong asset management and smooth Year 15 exits. It’s why we have partnered together on more than 17 tax credit deals over the past two decades."
"New Hope Housing has the good fortune to connect with National Equity Fund in 2008 when we embarked on our first LIHTC development. One factor that sets them apart is the staff. The people and their commitment to their partners exceeded any expectations I had."
Native American Connections (NAC) began its partnership with National Equity Fund in 2010 during a challenging economic time. Arizona had one of the highest foreclosure rates and banks and investors were nervous about investing in Phoenix, “but, NEF took the time to learn about NAC’s 40-year history of serving the community, our impact, and our sustainability,” stated Diana Yazzie Devine, CEO of NAC.
2022 marks the 50th anniversary of NAC’s service to the homeless and low-income community, and NEF maintains its lasting relationship as NAC continues to develop award-winning affordable housing communities that are on the leading edge of urban and sustainable development through public and private partnerships. “Currently, Phoenix has one of the highest inflation rates, and some of the highest rental rates along with the lowest affordable housing inventory in the country,” observes Devine and adds, “we are right back in challenging economic times.”
Since the collaboration began, NEF continues to be a vital partner in helping NAC to consistently add hundreds of units of permanent supportive housing for chronically homeless and low-income individuals and families.
NEF supports NAC’s strategies of building along Phoenix’s light rail system and other transportation corridors, selecting urban infill sites that are challenging to the city to increase its density, reducing unnecessary parking, building green and ensuring that residents have access to much-needed supportive services. Devine concludes, “NEF understands NAC’s commitment to provide quality supportive services for residents. Together we invest to better the quality of the lives of people we serve.”