Gary Friend's Contact Details

Gary Friend's Company Details

Housing Partnership Equity Trust

Washington, DC, US • 20 - 49 Employees
Real Estate

Real estate with a social purpose -- The Housing Partnership Equity Trust is a social-purpose Real Estate Investment Trust (REIT). We invest with our nonprofit partners to quickly and efficiently acquire apartment buildings that provide quality homes for families, seniors and others with modest incomes. We work collaboratively with our partners to positively impact the lives of our residents and the communities in which we operate by preserving the stock of affordable and sustainable rental housing.Non-profit founders with large institution backing -- The Housing Partnership Equity Trust was launched in 2012 with an investment of $100 million from Citi, Morgan Stanley, Prudential Financial, Inc., the John D. and Catherine T. MacArthur Foundation, the Ford Foundation, its nonprofit partners and sponsor, and a subsequent investment from Charles Schwab. We were founded by the Housing Partnership Network and work together with 14 high-performing nonprofit housing providers across the country to acquire and preserve multifamily properties that provide quality homes for families, seniors, and others with modest incomes.As of May 2018, HPET owns almost 3,000 units in 15 apartment communities across the U.S., serving renters making 57% of area median income.