Fact Sheet
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National Equity Fund, Inc. is a leading national syndicator of low-income housing tax credits with one of the largest portfolios of projects in the marketplace. Long known as a market innovator, NEF, Inc. has pioneered unique deal structures and raised service to a new level by employing technology in ways that complement the company's broad expertise.
NEF, Inc.'s portfolio includes 1,500 projects that respond to a diversity of local housing concerns. In both urban and rural communities, we invest tax-credit equity in multifamily and single-family developments, as well as in supportive housing, public housing revitalization, assisted living and historic rehabs.
In addition to equity, NEF, Inc. provides and/or facilitates predevelopment grants and loans, permanent and construction financing and various levels of technical assistance and asset management to support our partners' development efforts. NEF, Inc. also manages LISC's New Markets Tax Credits (NMTC) activities, which stimulate the investment of private capital in distressed communities.
The NEF, Inc. Track Record
---Invested $5.5 billion to support 1,500 projects.
---Financed the development of 80,000 homes.
---Partnered with 550 nonprofit and for-profit developers.
---Helped revitalize communities in 43 states + the District of Columbia.
How We Work
NEF, Inc. is an intermediary. Each year, we raise capital to create multi-investor pools and single-investor funds. We then invest that equity in affordable housing projects that have been allocated low-income housing tax credits by their state or local housing finance agency.
Our Projects
NEF, Inc.’s portfolio includes 1,500 projects that respond to a diversity of local housing concerns. In both urban and rural communities, we invest tax-credit equity in multifamily and single-family developments, as well as in supportive housing, public housing revitalization, assisted living and historic rehabs.
Our Sponsor Partners
Over the last 20 years, NEF, Inc. has collaborated with local and national affordable housing developers in 450 cities and towns across the country. Our partners are as diverse as our projects, including local community development corporations, public housing authorities, national non-profit groups and for-profit developers. Because of our roots as a nonprofit, we share their passion for developing high-quality, responsive affordable housing; as a seasoned financial intermediary, we have the technical and financial tools to support those efforts.
Our Investors
NEF, Inc. is able to make project investments because of the financial commitments made by our investor partners. Since 1987, some 150 companies and financial institutions have supported our local efforts. Our current funds include investments from Bank of America, BB&T, Capital One, Citicorp USA, Comerica, Deutsche Bank AG, Fannie Mae, Fifth Third, Freddie Mac, HSBC USA, JPMorgan Chase, Key Bank, LaSalle Community Development Corp., Nationwide, TD BankNorth, US Bancorp, Washington Mutual and Wells Fargo.
Our Family of Funds
NEF's current line up of funds includes:
--National Equity Fund (NEF), which makes investments in all states.
--New York Equity Fund (NYEF), which focuses on New York City developments; investments
are made in partnership with LISC, The Enterprise Foundation and the city of New York.
--Single-investor Funds, which are brand-name funds capitalized by individual investors.
Our Staff
NEF, Inc. operates through local and regional offices around the country with a seasoned staff focused on enhanced service to both developers and investors.
Acquisitions:
Our experienced acquisitions team works closely with our development partners
to steer projects through the LIHTC process and pioneer new financing structures where needed. We have both regional experts and business specialists, focused on such things as supportive
housing, assisted living and public housing.
Asset Management:
Asset managers collaborate with our acquisitions staff to underwrite new deals, then take those projects through their 15-year compliance period. NEF devotes nearly
one-third of our staff to asset management-related functions, and they underpin the strong
performance of our project portfolio
Investment Management Department:
IMD raises capital for NEF, Inc. funds and helps match
individual investors with projects that meet their needs. It also oversees the investor reporting function and monitors the overall health of the NEF, Inc. portfolio.
Key NEF, Inc. Contacts
Developers: Karen Przypyszny, Senior VP/Acquisitions: 312-697-6120
Investors: Darrell Hubbard, Senior VP/Investment Management: 312-697-6112
Asset Management: Rick Gentry, Senior VP/Asset Management: 312-697-6126
Media Relations: Colleen Mulcahy, VP/Communications: 312-697-2482
NATIONAL EQUITY FUND, INC.
Chicago Headquarters
120 S. Riverside Plaza, 15th floor
Chicago, IL 60606
PH: 312-360-0400 || FAX: 312-360-0185
