The NDC Corporate Equity Fund (NDC CEF), NDC’s LIHTC fund, announced today that it closed a $13 million investment into CEF Fund IX, L.P. with Morgan Stanley. NDC CEF, established in 1995, has invested more than $500 million in over 8,000 units of quality affordable housing for families, seniors and people with special needs in rural and urban communities across 27 states and the Commonwealth of Puerto Rico. We are thrilled to welcome Morgan Stanley to NDC CEF, and we look forward to continuing our mission of creating much needed quality affordable housing nationwide with Morgan Stanley as our partner, said Robert W. Davenport, President of NDC.
