Boston Financial Investment Management has closed its $145m low-income housing tax credit fund. The Boston Financial Institutional Tax Credits XLVIII Limited Partnership will provide capital for new construction and rehabilitation of multifamily properties. The fund includes 17 tax credit investments totaling more than 2,800 units of affordable housing for 11 multifamily and six senior communities. The properties are located in Arkansas, California, Florida, Georgia, Kentucky, Louisiana, Maryland, New York, South Carolina, Tennessee and Washington. Six institutional investors, representing the banking, financial services and insurance sectors, are participating in the fund.
Founded 50 years ago, Boston Financial has raised and managed more than $11bn worth of low‐income housing and historic tax credit equity investments, including 2,400 properties and 220,000 units.
