BRIDGE Housing obtains $250m for affordable housing

BRIDGE Housing, a nonprofit developer and owner of affordable housing, has captured $250 million set aside for project-level financing from Morgan Stanley and National Equity Fund (NEF), under a program that promotes affordable and workforce housing.

The commitment will allow BRIDGE to expand its scope and responsiveness to housing needs and opportunities, targeting low- and middle-income residents.

“This game-changing commitment gives us speed, flexibility and a sharper competitive edge to accelerate our delivery of quality affordable housing to families and communities,” said Ken Lombard, president and CEO of BRIDGE. “We’re honored to partner with Morgan Stanley and National Equity Fund on solutions to the housing crisis, and we hope to expand the relationship going forward.”

BRIDGE will use the capital to acquire multifamily properties, portfolios and/or land, as well as for refinancing, capital improvements and acquisition of general-partner intere