STREAMLINING THE FINANCING PROCESS
With this new Fund, as well as the previously launched Housing Partnership Equity Trust REIT, NHPF and its funding partners have valuable tools to fight against the “looming crisis in affordable housing.” Having these funding streams in place allows us to move smartly and quickly when opportunities arise in the acquisition pipeline.
NHPF, URBAN ATLANTIC, AND PNC REAL ESTATE formed NHP Foundation-Urban Atlantic Fund I and acquired four Maryland properties. Launched in June 2012, this $50 million equity fund was created in response to the growing shortage of affordable housing. To date, it has preserved approximately 1,000 units, providing more than 2,200 residents in Baltimore and Maryland’s Prince George’s County the opportunity to experience quality, safe, and affordable housing. The Fund’s mission is to identify and preserve affordable housing developments that are both sound investments and important components of the social fabric in their broader communities.
WINTER HILL, VIRGINIA
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