Boston Financial, known as the largest syndicator of U.S. Low-Income Housing Tax Credits, recently announced the successful closing of its Boston Financial Institutional Tax Credits 60 Limited Partnership fund. This multi-investor LIHTC fund has a total value of $170 million and received commitments from six institutional investors. With this funding, Boston Financial will be able to provide capital to 14 affordable housing developers.
According to the company, ITC 60 is another example of ORIX USA’s support for their LIHTC platform through their parent company Boston Financial. The fund will focus on financing new construction projects and preserving affordable rental homes in various communities across 13 states including California, Illinois, Louisiana,Maryland,and Texas.
Rob Golden,the CEO of Boston Financial,said that he is pleased with the successul closingof ITC60 which marks it asthe first new LIHTC multi-fund since he took over as CEO in May earlier this year.The headquarters forBostonFinancial are located at225 Franklin St.inBoston.
