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Sign in Sign up for a FREE subscriptionBoston Financial closes $221m low-income housing tax-credit fund
Boston Financial Investment Management has closed its Boston Financial Institutional Tax Credits 55 Limited Partnership (ITC 55) with backing from nine institutional investors from the banking and insurance sectors.
The $221 million low-income housing tax credit (LIHTC) fund is composed of 22 tax credit investments that will finance more than 1,800 affordable-housing units across 16 multifamily and six senior-living communities.
Boston Financial said the fund will provide much-needed capital for the new construction and rehabilitation of properties in 13 states: California, Idaho, Louisiana, Massachusetts, Maryland, North Carolina, New Hampshire, New York, Nevada, Texas, Virginia, Washington and Wyoming.
“We are proud to announce the closing of ITC 55 and the addition of five new investors to the Boston Financial roster,” said Todd Jones, senior vice president, director of institutional sales at Boston Financial. “Our ability to continue attracting new inv
