At a glance
- Seven institutional investors participated, Connect CRE reported on Oct. 14.
- The capital goes to work with 14 affordable housing developers across 16 communities in 12 states, backing both new construction and preservation.
- The $191 million works out to roughly $142,000 of fund capital for each of the 1,342 homes.
Boston Financial has closed Boston Financial Institutional Tax Credits 63 Limited Partnership, a $191 million multi-investor Low-Income Housing Tax Credit fund. Seven institutional investors participated, Connect CRE reported on Oct. 14.
The capital goes to work with 14 affordable housing developers across 16 communities in 12 states, backing both new construction and preservation. Together the projects are expected to create or preserve 1,342 affordable rental homes.
The $191 million works out to roughly $142,000 of fund capital for each of the 1,342 homes.
“ITC 63 reflects the strength of the relationships we have built with both our investor and developer partners over many years,” CEO Rob Golden said in the announcement. The firm also credited parent ORIX USA, saying its balance sheet provides the affordable housing platform with added flexibility and execution capacity.
| Fund | Size | Investors | Deployment | States |
|---|---|---|---|---|
| Boston Financial Institutional Tax Credits 63 LP | $191 million | 7 institutional investors | 14 developers, 16 communities, 1,342 homes | 12 |
Reported by the Fundraising desk from Connect CRE. Published . Corrections