Historic $444 Million Deal Secures Future of Affordable Housing for Thousands

In a monumental stride for housing stability across the nation, the National Equity Fund (NEF) has successfully closed its largest single transaction to date: a groundbreaking $444 million deal. This monumental effort is set to safeguard over 2,000 vital affordable housing units, ensuring their long-term preservation for low-income families and individuals across a sprawling nineteen states.

This unprecedented transaction underscores NEF's unwavering commitment to addressing the critical need for safe, stable, and affordable homes.

The expansive portfolio of properties spans California, Colorado, Florida, Georgia, Illinois, Louisiana, Massachusetts, Maryland, Michigan, Minnesota, North Carolina, New York, Ohio, Oregon, Pennsylvania, Texas, Virginia, Washington, and Wisconsin, illustrating the deal's far-reaching impact on diverse communities.

The urgency of preserving existing affordable housing cannot be overstated, especially as many Low-Income Housing Tax Credit (LIHTC) compliance periods near expiration.

This transaction serves as a crucial intervention, preventing the potential loss of thousands of affordable units and instead securing their future for generations to come. For countless residents, this means continued access to quality housing and the stability it brings to their lives.

For over 35 years, NEF has stood as a pillar in the affordable housing landscape, diligently investing in communities and creating opportunities.

With this latest achievement, NEF's total investment climbs to an astounding $22.7 billion, contributing to the creation and preservation of over 205,000 homes nationwide. This track record firmly establishes NEF as a leading force in community development and social impact.

The innovative structure of this transaction, involving a tax-exempt bond framework complemented by a significant infusion of proprietary equity from NEF's balance sheet, highlights NEF's strategic prowess and financial ingenuity.

This approach allows for efficient capital deployment, maximizing the impact of every dollar invested in these essential housing projects.

Tony Lyons, NEF’s President and CEO, emphasized the profound significance of the deal: 'This landmark transaction is a testament to our enduring mission and innovative approach to securing affordable housing for those who need it most.

Preserving existing housing is not just about buildings; it's about preserving communities, stability, and the dignity of individuals and families.' David Gasson, Senior Vice President of Equity Production, added, 'Our team's dedication and expertise were paramount in structuring this complex deal, ensuring that we could deliver lasting impact and fortify the foundation of affordable living across the nation.'

The success of this complex undertaking was made possible by the meticulous work of NEF's Capital Markets team, spearheaded by Tony Lyons and David Gasson.

Their expertise was further augmented by the invaluable legal counsel from Locke Lord LLP, with a team led by Vytas Kerpe, Ryan Pflederer, and Jeff Collins, who navigated the intricate legal landscape to bring this visionary deal to fruition.

As NEF continues to champion the cause of affordable housing, this record-breaking transaction stands as a beacon of hope and a powerful example of what can be achieved when innovation meets unwavering commitment.

It's a clear declaration that the future of affordable housing is not just a dream, but a tangible reality for thousands of families across America, thanks to organizations like the National Equity Fund.