Nestidd Fund II has $50 million in purchasing power with mandate to create accessible and affordable housing for I/DD adults and care providers.
Online PR News – 26-January-2020 – Chicago, IL – CHICAGO, IL (January 23, 2020) – Nestidd announces the closing of its second fund – Nestidd II – on an oversubscribed basis with more than $20 million in equity commitments. The fund has over $50 million of purchasing power to acquire, update, and lease single family homes, which Nestidd leases on a long-term basis to licensed care provider organizations.
Nestidd's inaugural fund, which began operations in early 2018, acquired and updated more than $13 million in single family homes now occupied by adults with disabilities. All of the investors who participated in the inaugural fund are participating in Nestidd II, joining new investors which include family offices and high-net worth individuals.
“A lot of people, including those with disabilities themselves, serve and advocate every day for disabled adults stuck in a disability housing crisis,” said Nestidd co-founder Andrew Parker. “Our company brings capital and real estate expertise to the fight. Market driven models like Nestidd can scale the amazing work already being done by advocates and care providers."
“The goal for the first fund was to create enriching homes for 250 people with disabilities, and to generate attractive returns for investors. It is gratifying that we continue to work with everyone involved in the first fund – both the care providers in the homes and the investors financing them.”
Nestidd is celebrating by helping people throw their own birthday parties- in their new homes. The parties can be the first time a resident has ever been able to host family and friends at a place of their own. “It is hard to overstate the importance of having your own space. Housing stability is a perquisite for a lot of other important things,” said Parker.
Nestidd is an impact real estate firm that knows living in a good home is essential for people with I/DD and that finding one is a challenge for care providers.
Nestidd finds and buys homes in safe neighborhoods, renovates and customizes them so they are accessible, comfortable, and move-in ready. Care provider organizations lease the house and the provider's clients move in. From there, Nestidd’s I/DD optimized property management service – Nestidd360° - takes care of repairs & maintenance.
The company owns and manages properties in Pennsylvania, New Jersey, North Carolina, Georgia, Tennessee, Illinois, Texas, and Nevada. The company was founded in 2017 by Andrew Parker and Tad Ritter. More information is available at www.nestidd.com.