A business collaborative of leading affordable housing and community development nonprofits, Housing Partnership Network (HPN) is no stranger to partnering with members and others to achieve ambitious social missions.

In 2012, with an initial investment of $100 million from investors, foundations and 12 nonprofit members, HPN launched the Housing Partnership Equity Trust, a private social-purpose real estate investment trust (REIT) created to preserve naturally affordable multifamily rental properties. Operated by HPN, which is also an investor, the Equity Trust has closed three transactions to date, including a 300-unit property in Norfolk, Va. With several properties in the pipeline, the Equity Trust is poised to launch a second capital raise, allowing the REIT to grow to include more members and preserve more affordable housing across the country.

By providing a ready source of long-term, low-cost capital, the Equity Trust enables its mission-driven nonprofit members to quickly and efficiently acquire rental apartment buildings so families, seniors and others with modest incomes can have access to comfortable, affordable homes.

In recognition of this innovative tool, HPN received a $2.5 million Wells Fargo NEXT Opportunity Award in September 2013 to assist with the expansion of the REIT and was a featured commitment at the Clinton Global Initiative America in June 2013 as well.

Peer exchange, and the member-driven social enterprises that emerge from senior-level interactions at industry events, such as what HAND offers, are at the core of HPN’s efforts to support communities, members and the sector as a whole. HAND and its members are also committed to providing safe, decent affordable housing, particularly in the Washington Metropolitan Area, where several HPN members are based and/or operate.

HAND is pleased to spotlight the HPN, which certainly contributes to our organization’s COLLABORATION, INNOVATION and TRANSFORMATION within the metropolitan area!