National Equity Fund

Connecting people. 
            Providing solutions.
                          Investing in brighter futures.


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Mission & Vision

National Equity Fund’s mission is to create and deliver innovative, collaborative financial solutions to expand the creation and preservation of affordable housing.

We envision a society where increased access to affordable housing empowers every individual and family to reach their full potential.

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Differentiators

  • One of the largest Non-profit Tax Syndicators committed to expanding, diversifying and preserving affordable housing for the long term
  • Mission-driven experts in Low-Income Housing Tax Credits since 1987
  • Pioneers in Supportive Housing with three decades of demonstrated impact
  • Innovators in finding new ways to deepen and broaden the creation and preservation of affordable housing with expertise in preservation lending, workforce housing and pre-development lending
  • Industry leaders in combining Opportunity Zone credits with LIHTC
  • Cultivators of long-term partner relationships and award-winning projects in urban, suburban and rural areas
NEF ADS

Innovative & Collaborative Solutions

Low-Income Housing Tax Credits (LIHTC)

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.

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Predevelopment Loans

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.

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Workforce / Moderate Income Rental Housing

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.  

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Preservation Lending

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.

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Supportive Housing

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.

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State Tax Credits

State tax credits offer an essential additional resource for the affordable housing market—delivering benefits to both developers and investors while generating critical equity needed to deliver more affordable housing.

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NEF in the News

Expanded Credits
October 16, 2025

NEF's Matthew Reilein and John Jablonsky Discuss The Future of LIHTC in New TCA Article

This week, NEF's President and CEO Matthew Reilein and Senior Vice President, Head of Investor Relations John Jablonsky weighed in on the changes and impacts around the corner for syndicators across the affordable housing industry in a Tax Credit Advisor article entitled, "LIHTC Investors Gear Up for Expanded Credits." 

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El Paseo And Wyndhaven
October 14, 2025

"NEF closes catalytic $444 million preservation deal with focus on creative collaboration" Remarks AHF

"We're focused on doing two things: creating more affordable units, but also preserving them; because that's what we have to do if we're really going to address the affordable housing crisis,” said Daryl S., NEF's SVP, Structured Finance in an article published in Affordable Housing Finance. 

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October 09, 2025

NEF's Landmark $444 Million Preservation Transaction Secures Long-Term Affordability of Over 2,700 Homes

“The preservation of these units continues to help move the needle to address the affordable housing crisis. There’s no one-size-fits-all solution to addressing such a massive crisis. That’s why NEF has evolved as an organization that can plug in at different parts, engaging across every aspect of the multifamily affordable housing ecosystem. We’re proud to be a part of this transaction, because it amplifies the need to not only just build units, but preserve them,” said Daryl S., Senior Vice President, Structured Finance at NEF, in reference to the $444 million Albuquerque and Portland Portfolio preservation deal that recently closed. 

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Hitchcock
September 29, 2025

The Hitchcock Center for Women Continue Their Mission of Female-Focused Addiction Recovery with New Expansion

More than 100 people, including local officials, community members, and residents, gathered a few weeks ago to celebrate the Ribbon Cutting of the Hitchcock Center for Women in Cleveland, Ohio. 

 

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Angle Lake
September 23, 2025

Mercy Housing Northwest Celebrates the Creation of 130 Units of Affordable Housing in Seattle, Washington

Congratulations to our partners at Mercy Housing Northwest on the grand opening of Connection at Angle Lake in Seattle, Washington! 

 

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September 18, 2025

80 Units Of Affordable Senior Housing Created in Statesville, North Carolina

Last month, our partners at Pressly Residential Group celebrated the dedication of the Residence at Northgate apartments. 

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Taking Shape
September 08, 2025

164 Units Of Affordable Housing Begin Construction As Part Of The Taking Shape Redevelopment Program

Congratulations to our developer partners at the Madison Revitalization And Community Development Corporation and New Year Investments on the groundbreaking of the first building in the Taking Shape redevelopment Madison, Wisconsin! 

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444 Million
September 02, 2025

$444 Million Preservation Deal Safeguards Over 2,700 Units, Largest Deal of its Kind in NEF's History

Today, NEF announced the closing of one of the largest single preservation transactions in the history of the affordable housing industry. The $444 million Albuquerque and Portland Portfolio preservation deal that preserves more than 2,700 units, the largest in NEF's history, supports the owner Guardian Real Estate Services and underscores an innovative, collaborative partnership between two leaders in affordable housing.

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Woodale
August 28, 2025

56 Units of Affordable Senior Housing Created at Woodale Crossing in Milwaukee

Last month, NEF's Danny Gutman visited Milwaukee to celebrate the grand opening of the Harry and Jeanette Weinberg Residences at Woodale Crossing. 

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August 21, 2025

National Church Residences Celebrates Rehab and Preservation of 110 Units at Eden Court in Seguin, TX

NEF's Jacob Pellegrino and Jesus Rosas joined our long-time partners at National Church Residences to celebrate the rehabilitation and preservation of 110 units of affordable housing at Eden Court in Seguin, Texas! This transformative community will help empower seniors to age in place and live life independently through high-quality renovations.

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