NHT/Enterprise Preservation Corporation

Background Information

The demand for a capable, mission driven, nonprofit purchaser of multifamily housing-particularly housing which shelters very low-income households and seniors-has become increasingly apparent. The National Housing Trust/Enterprise Preservation Corporation will fill a niche in the housing market, providing a socially motivated acquisition entity that can preserve affordable housing.

Financial Health: Both Enterprise and the Trust have developed a robust capital base, healthy balance sheets, and skilled staffs. The National Housing Trust/Enterprise Preservation Corporation is seeded with substantial long-term capital from Enterprise and the Trust.

Experience Underwriting HUD/FHA Properties: The Trust has worked with local partners to preserve approximately 12,000 HUD insured apartments, utilizing over $750 million in financing. Enterprise Community Partners has, also with local partners, helped develop 100,000 homes by raising almost $3 billion in loans, grants, and equity investments. This experience places the Trust and Enterprise in an excellent position to react promptly to the exit of many owners from government assisted, multifamily housing.

Partners/Relationships: The Trust and Enterprise have deep and strong relationships with HUD, national lenders, and owners, assuring a smooth transition from previous to new ownership. Both organizations have also built meaningful relationships with state housing finance agencies which will become increasingly involved in the preservation of multifamily housing through their role in Mark-to-Market, the tax credit qualified allocation plan process, and the issuance of tax exempt debt.

Complementing Local Partners: The National Housing Trust/Enterprise Preservation Corporation will pursue a property when there is no well motivated, local nonprofit organization interested in purchasing. We are willing to enter into joint ventures when a developer desires a partner. When a partner is able to purchase, the Trust is capable of lending funds to our partner for due diligence or bridge financing.