NEF Provides $12.5M Loan for Refinancing of Workforce Housing Portfolio in Brooklyn

by Taylor Williams

NEW YORK CITY — National Equity Fund (NEF), a Chicago-based lender in the affordable housing space, has provided a $12.5 million loan for the refinancing of a portfolio of five workforce housing buildings totaling 56 units in Brooklyn. Known as The Jefferson MacDonough Portfolio, the properties are located in the Bedford Stuyvesant area and house a mix of studio, one-, two- and three-bedroom units. The borrower was Iris Holdings Group, a national owner-operator.

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