"Partnering with NEF brings together our deep understanding of the NeighborWorks network with NEF's decades of LIHTC expertise and unmatched infrastructure," said Jim Peffley, CEO of NeighborWorks Capital. "It is a natural partnership because our missions are tightly aligned. Both organizations are fully committed to supporting and empowering community-focused nonprofit developers. They have been an excellent partner in developing this new fund, and our model of collaboration is an example of the innovative thinking needed in times like these. Nonprofits should lean on each other's unique skill sets and infrastructure to grow our impact in new ways. NEF has demonstrated a vision for doing just that."
This remark comes after the closing of the inaugural NeighborWorks Capital Equity Fund made possible through the partnership of NEF and NeighborWorks Capital. The first-of-its-kind equity fund raised $110.4 million to support 7 developments across the country, creating 517 units of affordable housing.
Read the full press release here.
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