On January 23, 2020, Nestidd announced 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. According to Nestidd co-founder Andrew Parker, the organization is seeking to combat the disability housing crisis by providing housing and working with advocates and health care professionals.
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.
Nestidd is an impact real estate firm that seeks to provide homes for individuals with intellectual and developmental disabilities. 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 clients move in. From there, Nestidd’s I/DD optimized property management service—Nestidd360°—takes care of repairs and 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.
This was reported by Nestidd on January 23, 2020.