Boston Financial Investment Management has held a final close of Boston Financial Institutional Tax Credits 60 L.P, with total equity commitments from six institutional investors of $170 million. This low-income housing tax credit (LIHTC) fund held a final close on Oct. 29, according to a press release from Oct. 29.
Boston Financial Institutional Tax Credits 60 (ITC 60) is a closed-end fund that focuses on impact, multifamily, and senior housing properties. It follows 59 series funds, all aimed at allocating capital to affordable housing developers. As a LIHTC fund, this vehicle will provide capital for new construction and preservation of affordable rental homes.
“We are in the midst of a protracted affordable housing crisis, with over 22 million households — half of all renters nationwide — spending more than 30 percent of their income on rent. This burden dispropor
