Boston Capital announced the closing of a $150 million low-income housing tax credit (LIHTC) fund.
The fund features a portfolio of 22 multifamily properties in 15 states. The properties acquired by Boston Capital Tax Credit Fund XXXVI add an additional 2,481 units to the firm's holdings.
The latest fund includes nine seniors housing developments and 13 properties for families in 15 states—Arkansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Missouri, New York, North Carolina,
Tennessee, Texas, Utah, Virginian, Wisconsin, and West Virginia.
The fund will create more than 1,220 local jobs and will generate nearly $95 million in local income, according to the firm.
With the closing of Fund XXXVI, Boston Capital has raised $601 million in equity since January 2012. The company recently launched Corporate Fund XXXVII, a $120 million equity fund that is expected to close in March.