A Portfolio with an Emphasis on Social Responsibility
In 2018, our organization continued the focus of our mission, by acquiring and developing 10 additional affordable rental properties. Our real estate portfolio of 49 properties consists primarily of multifamily and senior affordable rental buildings. Maintaining a diversified portfolio of quality affordable rental housing leased to strong residents helps ensure the stability of our investments and impact in the communities where we are active. The strength of our portfolio is enhanced by the experience of our Asset Management and Development teams, in their abilities to maximize the potential outputs at our properties, while securing long-term operational investments throughout the NHPF portfolio. This was evident as we achieved stable occupancy over the course of 2018, with a vacancy rate between 3.1% and 4%; half the US Rental Vacancy rate of 7%, while adding an additional 1,218 units or increasing our units by 17% from 2017. Our organization’s various internal departments work in combination conducting research and a thorough financial review and analysis of future projects to determine how NHPF can best meet the needs and improve the environment of our future residents. These professional skills were fully realized over the course of the year, as our resident population grew 13% or by 4,203 residents. Through this disciplined investment process, our acquisitions department establishes and maintains strong relations with residents, tenant associations, property owners, developers, brokers, and advisors. Managing our portfolio with an emphasis on social responsibility is essential to our continued success. Going forward, our company remains committed to being socially and environmentally responsible, and to conducting our business according to the highest industry standards. We will always play an active role in supporting the community through civic involvement and social governance. These values are reflected within our organization through strategies centered on encouraging a culture of inclusion, collaboration, transparency, and respect.
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