National Equity Fund’s asset management group has been in operation since the company’s inception in 1987. Comprised of more than 60 asset and construction management professionals with an average of 12 years of real estate experience, it is one of the largest and most experienced asset management groups in the industry. Nearly a dozen teams are regionally located and focused, monitoring properties from initial bid and underwriting through the life of the asset.
Early on we decided to aggressively build our asset management capabilities to effectively service and oversee high-impact deals and the large volume of projects developed by both nonprofit and for-profit sponsors in our portfolio. We recognized that strong asset management is critical not only to ensuring that projects make it through the compliance period but also to preserving the long-term viability of projects as assets for their communities and their residents.
Our asset management operations are self-sustaining and our revenues have covered expenses since 2006. We know that our ability to honor long-term commitments to our investors and developer partners depends largely on having a financially self-sustaining asset management function, which does not rely from year to year on fee income generated from other activities.