For Immediate Release January 29, 2013
Contact Information Keely McAleer (402) 334-8899 kmcaleer@mheginc.com MHEG Announces Expansion of Footprint
OMAHA - Midwest Housing Equity Group, Inc. (MHEG), which currently operates Low Income Housing Tax Credit (LIHTC) equity funds in Nebraska, Kansas, Iowa and Oklahoma, is expanding into additional states. Beginning in 2013, MHEG will be syndicating tax credits in Arkansas, Colorado, Minnesota, Missouri, South Dakota and Texas. These six new states were selected in part due to their need for quality housing partners, their close proximity to one of our four regional offices, their similarity to the market in MHEG’s current footprint. To facilitate the syndication of LIHTC in its expanded footprint, MHEG has established a regional fund that will invest in affordable housing developments in all 10 states, offering investors more geographic diversity. “We are very excited about this expansion,” commented John Wiechmann, President/CEO of MHEG. “It gives us the opportunity to grow relationships with our existing partners, develop new relationships with other great housing agencies, developers, investors that do business in these States, and ultimately, it gives us the opportunity to do what we do best: change people’s lives for a better tomorrow by promoting the development and sustainability of quality affordable housing.” To date, MHEG has invested over $900 million of equity into affordable rental housing throughout the four-state area, creating over 9,600 units of affordable housing. MHEG’s portfolio includes family, senior, transitional homeless facilities, as well as congregate facilities for mentally and physically impaired tenants. The properties are located in rural, suburban and urban communities and consist of all types of construction including single family homes, duplexes, multi-unit buildings, renovated historic structures (school, hotels and commercial buildings) and specially designed units for special needs residents. In addition to raising equity, MHEG provides technical assistance to developers, owners and management companies on the development and management of tax credit properties. For more information about MHEG please visit our website at www.mheginc.com. ###