**Boston Financial Closes $237M Multi-Investor LIHTC Fund**
Boston Financial, an ORIX company and the nation’s longest-standing syndicator solely focused on affordable housing, has successfully closed on its latest Low-Income Housing Tax Credit (LIHTC) fund—Boston Financial Institutional Tax Credits 62 Limited Partnership (ITC 62).
Valued at $237 million, ITC 62 is the firm’s second-largest multi-investor fund closed since 2006.
The fund secured investments from eight institutional partners and will allocate capital to 13 affordable housing developers. It is designed to support both new construction and the preservation of 1,527 affordable rental homes across 16 communities in 10 states: California, Connecticut, Kentucky, Maryland, Massachusetts, Missouri, New Jersey, South Carolina, Tennessee, and Texas.
“This fund will help finance over a thousand affordable homes for families across the country, reinforcing our longstanding commitment to addressing the nation’s housing crisis and strengthening communities through the power of affordable housing,” said Rob Golden, CEO of Boston Financial.
Of the projects funded, 31% are located in low-income communities, 56% in moderate-income areas, and 13% in high-income neighborhoods. One such development is The Armory in Lynn, Massachusetts, a project led by the Lynn Housing Authority and Neighborhood Development Associates.
This initiative represents another step toward alleviating the growing need for affordable housing across the United States, aligning with Boston Financial’s mission to support communities through responsible investment and development.
