Boston Financial Closes $190 Million Multi-Investor Fund
Boston Financial Investment Management (“Boston Financial”) announces the closing of a $190 million low-income housing tax credit fund, Boston Financial Institutional Tax Credits XLVI, Limited Partnership (“ITC 46”).
ITC 46 consists of 15 tax credit properties resulting in 2,562 units within eleven family and four senior communities. The properties are located in nine states, including: CA, FL, KY, MA, MI, MT, NM, NY and WA. As a result of ITC 46’s investments, 3,044 temporary and 787 permanent jobs will be created.
Six institutional investors representing the banking, insurance, and financial services sector are participating in ITC 46.
“We would like to thank all of our investors for their steadfast commitment and loyalty to Boston Financial. In this business, relationships mean everything and together we have successfully navigated some very challenging market conditions. At $190 million, ITC 46 marks the single, largest multi-investor fund syndicated by Boston Financial,” said Sarah Laubinger.
“The momentum we have been able to maintain following the ORIX acquisition in July has been incredible and is a testament to the smooth integration and Orix’s unwavering commitment to our business. We could not feel better about the strength of our company and the quality of both our investor and developer relationships heading into 2017,” said Greg Voyentzie.
Sarah and Greg, both Executive Vice Presidents, co-lead Boston Financial’s syndication group and have worked in LIHTC for over 20 years.
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