Boston Financial Investment Management, a wholly owned subsidiary of ORIX Corporation USA, is to acquire Boston Capital’s low-income housing tax credit (LIHTC) fund portfolio.
Established by the U.S. Congress in 1986, LIHTC is a tax incentive program designed to promote the supply of affordable rental housing for low-income households. Private developers of affordable rental housing projects are awarded the 10-year tax credit issued by the federal government via state and territorial governments, if developers meet certain required conditions.
LIHTC syndicators such as Boston Financial and Boston Capital bridge the gap between developers seeking to raise funds by selling tax credits and investors pursuing the tax advantages of the tax credits.
Acquired by OCU in 2016, Boston Financial has established itself as a leader in the LIHTC industry, and today manages a $7.7 billion portfolio comprising more than 1,125 properties and 98,110 units. The purchase of Bosto
