NeighborWorks Network Expects Investment in Multifamily Portfolio to Approach $700 Million in 2009

Today NeighborWorks America announced that it anticipates continued growth in investment in its portfolio of owned and managed multifamily rental housing, forecasting the total investment in the portfolio to grow by more than $50 million, or just over eight percent of the investment made in the year ended Sept. 30 2008. Last year, NeighborWorks organizations invested in excess of $644 million in multifamily properties. The expected growth in 2009 translates into approximately 5,000 additional units of quality, affordable and increasingly environmentally sustainable housing. More.