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Chicago-Based National Equity Fund Acquires Mountain Plains Equity Group
National Equity Fund, a nonprofit multi-family, affordable, real estate investment manager headquartered in Chicago, has expanded its reach in the West by acquiring the assets of Mountain Plains Equity Group (MPEG), Inc., including the ownership of MPEG Acceptance Corporation.
Based in Billings, Montana, MPEG began operations as a small Low-Income Housing Tax Credit (LIHTC) syndicator in 2003 and has developed affordable housing primarily in six states: Alaska, Colorado, Montana, North Dakota, South Dakota and Wyoming. MPEG created MPEG Acceptance Corporation to act as a project-level investment entity and routinely serves as a special limited partner in dLIHTC project partnerships.
“The acquisition of Mountain Plains Equity Group allows us direct access to build a presence in states where NEF has not traditionally had a large market share,” said Matt Reilein, president and CEO of National Equity Fund.
