The Seattle fund manager has been recognized as a national leader for the second year in a row.
SEATTLE, WASHINGTON, UNITED STATES OF AMERICA, June 10, 2024 /EINPresswire.com/ — Housing Diversity Corp. is proud to announce its ranking by Novogradac as one of the top-tier Qualified Opportunity Fund managers in 2023. This marks the second year in a row that HDC has been recognized in the rankings.
HDC, in the last year, has moved from top 6% to top 5% of 885 QOF managers reporting equity to and tracked by Novogradac.
According to data from Novogradac, as of December 31, 2023, the company was monitoring 1,874 QOFs, of which 1,461 disclosed a specific equity amount. Compared to the previous year, this represents an increase of 213 QOFs being tracked and an additional 187 QOFs reporting their equity figures.
The rankings are based on equity amounts raised.
HDC is one of only 47 QOF managers to raise $150 million or more, according to Novogradac.
“Receiving this top ranking from Novogradac is a tremendous honor for Housing Diversity Corporation,” said CEO Brad Padden. “It reflects the tireless efforts and unwavering commitment of our entire team. We are proud of our work in providing valuable investment opportunities and making a meaningful difference in the communities we serve.”
Padden also conveyed his deep appreciation for HDC’s partners, acknowledging their ongoing support and confidence in the company.
QOFs were established in late 2017 as an investment vehicle that allows taxpayers to invest capital gains and potentially receive tax benefits, including deferral.
Novogradac gathers data on an ongoing basis from QOFs that choose to share information voluntarily. In addition, Novogradac utilizes publicly available sources, such as filings with the Securities and Exchange Commission and press releases, to supplement its data collection efforts.
About Housing Diversity Corporation
Housing Diversity Corp. is a leading Multifamily Real Estate and Qualified Opportunity Fund manager. HDC’s principal, Brad Padden, has sponsored 23 real estate development projects over his development career, accounting for the production of 2,800 new multifamily apartments in the Pacific Northwest and Southern California. For media inquiries, contact media@housingdiversity.com. For more information visit https://housingdiversity.com/.
Adina Eaton
Housing Diversity Corporation
+1 201-737-5745
adina@housingdiversity.com
