MEF is a joint venture of the Greater Minnesota Housing Fund with Cinnaire, a community development financial partner with a proven track record of investment management, underwriting, asset management, and SEC, HUD, and IRS compliance.
MEF provides equity investments for a full range of affordable housing development in Minnesota and beyond. MEF and Cinnaire seek to invest in affordable housing in Minnesota, Wisconsin, Illinois, Indiana, Michigan, New York, Pennsylvania, Delaware, Maryland, and Mississippi.
MEF invests in the following types of housing:
- Workforce Housing
- Low-Income Senior Housing
- Historic Preservation
- Rural Development Preservation
- Mixed-Use and Mixed-Income
- Supportive Housing for Disabled Persons, Veterans and their Families, Homeless Youth, Families with Children, and Long-Term Homeless
MEF strives to:
- Improve access to equity for developers
and conserve public and charitable subsidies
- Foster a robust tax credit investor market
- Offer Minnesota corporations the opportunity to invest in local community development
- Address local affordable housing production and preservation goals
- Be a solutions-oriented, responsive organization to facilitate closings in an organized and timely manner
About Greater Minnesota Housing Fund
Greater Minnesota Housing Fund (GMHF) is Minnesota’s leading nonprofit affordable housing lender, having awarded over $250 million in its 20-year history, financing over 13,200 units of affordable housing and leveraging more than $1 billion in additional capital investments. GMHF established its tax credit investment subsidiary, Minnesota Equity Fund (MEF), in 2012.
GMHF operates a $42 million development loan fund providing predevelopment, acquisition, construction, bridge, and first mortgage financing for affordable housing throughout Minnesota. GMHF is certified by the Department of Treasury as a Community Development Financial Institution (CDFI) and is a member of the Federal Home Loan Bank of Des Moines. GMHF is rated AAA+2 by Aeris. Find more information.
Cinnaire is a full-service community development financial partner with equity funds in ten states. Cinnaire has invested over $2.5 billion in housing and community developments and has financed over 500 developments and 25,000 housing units. Cinnaire supports community stabilization and economic development by developing and nurturing partnerships with investors and mission-focused organizations. Cinnaire provides creative loans, investments, and best-in-class services to partners. Find more information.