Assisted Living
NEF's $160MM assisted living portfolio includes more than 30 projects that offer some 2500 housing units to people with special needs. Approximately $17MM of equity closed last year, making 2007 NEF's most productive year since 2002, when NEF invested more than $20MM in assisted living deals. NEF's 2007 deals include two in Illinois--DeKalb Supportive Living Facility (Sponsor: Blair Minton & Associates) and The Manor at Salem Woods (GMS II, LLC); and two in Massachusetts--VNA Senior Living Community (Visiting Nurses Association) and Christopher House of Marlborough (Christopher House Assisted Living, Inc.).
Pioneer Gardens
This $10.4MM project, located in Chicago's Southside, was developed by South Park Affordable 
Housing & Services, Inc. and offers 120 units--108 of which are SROs--of affordable housing. The surrounding neighborhoods have faced aggressive demolition over the last several years, but many of the communities are now rebuilding. In fact, the area has seen increased investment and many vacant historic buildings are being renovated as multi-family housing and commercial space.
The project was developed under the Supportive Living Program which is administered by the State of Illinois Department of Public Aid (DPA).
