National Equity Fund


National Equity Fund® is committed to preserving existing affordable housing throughout the country. We have joined forces with our investors applying our extensive experience and innovative thinking to create a suite of products focused on providing financing and equity to assist our partners with the acquisition and recapitalization of multifamily properties to maintain long-term affordability for the residents.


Our preservation products provide capital investments in affordable housing projects including ones near or beyond the end of their initial tax credit compliance period as well as affordable housing properties that operate under HUD Section 8 and various other federal programs.

Our first mortgage debt and equity products offer project financing, which enables prospective partners to acquire or gain control of qualified properties.

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There are many applications for the Preservation products, but essentially it can be used to:

  • Acquire affordable housing projects
  • Pay off an existing first mortgage
  • Buy out existing limited partners
  • Invest in minor capital improvements to increase marketability

Generally, eligibility requirements for preservation products include:

  • Sponsors are multifamily housing developers with substantial prior experience and demonstrated track record of developing, owning or operating multifamily properties
  • Funds to be used for the acquisition of existing multifamily affordable housing properties
  • Property to remain affordable for the length of investment or Land Use Restriction Agreement (LURA), whichever is greater

Our professionals are committed to excellence and providing our partners with everything they need to succeed. If you're interested in learning more, please review the information and contacts below.



“It’s tough to compete against developers with deep pockets and are not mission-driven. Affordable housing developers can now confidently consider opportunities knowing they have the financial muscle to execute rapidly, too,” Daryl Shore says in "A Powerful New Equalizer for Affordable Housing Developers" in Affordable Housing Finance.

Learn more about how NEF and BRIDGE Housing's partnership "advance[s] traditional low-income housing tax credit-based projects while protecting existing NOAH and regulated inventory" in the article.

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Preservation Debt

If you're interested in project financing in the form of debt, discover what NEF's preservation financing solutions can offer at the link below.

Preservation Equity

If you're interested in project financing in the form of equity, discover what NEF's preservation financing solutions can offer at the link below.


Dwell 12122022

Dwell at Greenridge, first constructed in 1980, was acquired under the NEF Preservation loan program in 2021. This development was renovated prior to acquisition in 2020 with each of the 256 units undergoing $16,000 in upgrades. Previously unrestricted, the developer will enter into an agreement restricting 103 units to families with incomes at 60 percent of the Area Median Income (AMI) and 90 units at 80 percent AMI. The remaining 63 units will remain unrestricted. Located in North Charleston, SC, Dwell at Greenridge is close to two major roadways, and grocery stores, services, and schools are accessible within three miles of the community

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