Boston Financial Investment Management (“Boston Financial”), a leader in real estate investment management, announced today that it will mark its 50th anniversary. The first affordable housing syndicator to celebrate 50 years in business, Boston Financial is a nationally recognized leader in the low-income housing tax credit (LIHTC) industry.
Boston Financial was founded in 1969 as a private partnership providing investment opportunities in affordable, multifamily real estate for individual investors. The very first project Boston Financial financed, a 400-unit housing complex in Fitchburg, Mass., is still in operation – a testament to Boston Financial’s longevity in the market.
Today, Boston Financial is recognized as a top-tier affordable housing syndicator with a sizable nationwide portfolio, one of the most experienced management teams in the industry, and an excellent track record as fund sponsor and investment manager. The company has invested over $13 billion of equity to help provide a safe and affordable place to live for nearly one million people in 48 states and the U.S. territories.
“Fifty years is a remarkable milestone for any company and a unique accomplishment in the affordable housing industry,” said Gregory Voyentzie, Chief Executive Officer of Boston Financial. “We’ve come a long way since 1969, and we’ve done it by fostering a culture of collaboration, fiduciary responsibility and exceptional service. We are fortunate to have forged so many successful relationships with investors and developers and consistently produced excellent results for our clients.”
Boston Financial not only provides an essential resource for the creation of affordable housing, but the company’s investments also create jobs, stabilize neighborhoods, keep families and senior citizens in their homes, and help improve the living environment for residents in urban and rural communities across the U.S.
Key Moments and Milestones
– 1969: Financed first project in Fitchburg, Mass. – a 400-unit housing complex that is still in operation today.
– Mid-1980s: Raised more than $800 million and invested in more than 550 properties nationwide.
– 1987: Became the first company to introduce a public low-income housing tax credit fund on Wall Street.
– 1991: Became the first for-profit syndicator to offer a tax-credit fund for institutional investors.
– 2004: Surpassed the $1 billion-a-year mark and became the largest housing credit syndicator in the country.
– 2016: Became a subsidiary of ORIX USA – the partnership helped extend Boston Financial’s product offerings and reach in the LIHTC syndication market.
– 2018: Ranked top 10 in the National Multifamily Housing Council’s Largest Apartment Syndicators for the 20th consecutive year.
– 2019: Invested more than $13 billion of equity capital in 2,600 properties located in 48 states, Puerto Rico, Guam and the Virgin Islands (since the beginning of the tax credit program in 1986).
“As grateful as I am for our success, we are not about to rest on our laurels,” Voyentzie said. “As a subsidiary of ORIX USA, Boston Financial is poised for continued growth in the coming years, and our culture will be an important driver of that growth. We will continue to thrive by staying true to our commitment to put our clients first, to deliver exceptional value, and to provide safe and attractive housing that can make a difference in the quality of life of people in communities everywhere.”