National Equity Fund, Inc.

For NEF, preserving #affordablehousing is just as important as creating new developments. That is why we are grateful for the opportunity to work with our partners at Vital Housing and Thurston Regional Housing Council to preserve 211 units of affordable housing in Olympia, Washington. Courtside Apartments was the largest affordable property in the city at risk to be converted to market rate units as #LIHTC units were set to expire in 2026. Now, these apartments can remain affordable for at least another twenty years. In addition to preserving affordability, Vital Housing will create a more energy-efficient development by incorporating several measures including ductless mini-splits, rooftop solar panels, energy star appliances and more. We are always inspired by working with organizations who share in our values, mission and vision where increased access to affordable housing empowers every individual and family to reach their full potential. Learn more about this partnership and about Vital Housing's mission to preserve and decarbonize existing affordable housing: https://lnkd.in/g6q5Eyr3

Congratulations to our long-time partners at C&C DEVELOPMENT CO., LLC as well as Riverside Community Charities on breaking ground last week at Lincoln Avenue Apartments in Buena Park, CA! Once construction is complete, this #affordablehousing and permanent #supportivehousing development will provide 54 units for five student families, 11 veteran households, and 13 families and individuals with special needs, many of whom suffer from serious mental illness and are at risk of homelessness. The units will be both ADA-accessible and adaptable and have sustainability features including drought-tolerant landscaping and energy-efficient appliances and HVAC systems. In addition, LifeSTEPS will provide adult education and after school activities for children onsite. Buena Park is located in Orange County, which saw a 28% growth in homelessness between 2022 and 2024, according to The Point in Time Count by United to End Homelessness. NEF is proud to support efforts to increase access to affordable housing across the country, including Lincoln Avenue Apartments, which will bring crucial, affordable, high-quality homes to Buena Park and Orange County. https://lnkd.in/guqeMGa6

Last week, our partners at Dimension Development, LLC, the Dodge County Housing Authority, Wisconsin joined Governor Tony Evers and other stakeholders to celebrate the grand opening of Sunset View in Juneau, WI.? ? The newly built #affordablehousing development composed of duplexes offers 30 units to families at or below 50% and 60% of the area median income (AMI) with six units of supportive housing for unhoused or nearly homeless individuals. Situated across the street from the Dodgeland K-12 public campus as well as within walking distance to a grocery store, bank, medical clinic, post office, and childcare center, Sunset View is truly beneficial for families and the community. ? Congratulations to all involved in the event and special thanks to Danny Gutman for representing NEF!? ? Learn more about Sunset View at the link below. https://lnkd.in/g4rUWynE

NEF's Structured Finance team wrapped up 2024 with an outstanding level of success during Q4 in the preservation and moderate income rental housing space! Our team has financed 12 developments in 7 states for over $412 million to preserve 2,271 units of #affordablehousing. We're working with three (3) new developers including The Clear Blue Company, MRK Partners, and Housing Development Corporation . Our team is excited to embrace the new year and implement our mission to expand the creation and preservation of affordable housing! Check out a few of the developments below, and learn more about our preservation financing solutions at the link below. https://lnkd.in/gg4wnjD4

"A stable and long-term capital partner is critically important to the affordable housing ecosystem. That’s the thing that we’re most proud of, having long-term relationships with both our investors and developers, our proven ability to serve as that stable source of capital and investment and ultimately to support the creation and preservation of affordable housing across the country," said Matthew Reilein, president and CEO of National Equity Fund, in an article within a series entitled "Breaking Ground" by Tax Credit Advisor. Read the full article at the link below to learn more about NEF's success in 2024, "lessons learned along the way and what the future holds for the company and the industry." https://lnkd.in/g7zTMS2V #affordablehousing #housing #LIHTC

This week, Justin Zenteno joined NEF as a Financial Reporting Analyst. Justin is a Chicagoland area native, but he attended The Ohio State University where he graduated with a Bachelor of Science in accounting. He is currently working on his CPA license and previously worked for a public accounting firm. Welcome to the NEF team, Justin!

Searching for a paid #internship for this #summer? Apply for NEF's 10-week Summer Ambassador program! The program runs from early June through early August and is available for juniors, seniors, and recent graduates currently enrolled in a master's degree or MBA program with interest in the careers like #investorelations #originations and #assetmanagement. Learn more and apply here: https://lnkd.in/gRwcbQuE

NEF is thrilled to invest in this truly impactful collaboration between Lincoln Avenue Communities, Fairview Housing Partners, and Family Scholar House, which will provide extended resident services at four #affordablehousing developments in Florida. ? "We are proud to play a role in this grant that will allow expanded resident service programming in four different developments, creating long-term, life-changing educational opportunities for families in need," said Daryl Shore, SVP, Structured Finance at NEF in the press release. ? Read the full release at the link below. https://lnkd.in/gZW_w2er

This week, NEF welcomed Jesus Rosas as our newest Originations Analyst. Jesus recently graduated from Trinity University in San Antonio with a degree in finance. The passion for our mission that Jesus saw during his time as a NEF Summer Ambassador in 2022 made a lasting impression on him and he's excited to return.?It's great to have you back, Jesus!

"Thanks to our deep relationships, strong product offerings and the perseverance of our exceptional teams, I'm proud that we helped create or preserve more than 16,000 affordable homes in 2024 in service of our mission," said Matthew Reilein, president and CEO at National Equity Fund. NEF had the strongest performance in its history last year, providing record level financing to support affordable homes across the country. Despite economic headwinds and uncertainty that impacted much of 2024, NEF raised and deployed $2.7 billion in #affordablehousing investments, including $1.8 billion in LIHTC-specific equity. Read the full press release at the link below: https://lnkd.in/gdx5SZMN #LIHTC #housingforall