Boston Capital announced the closing of a $235 million low-income housing tax credit fund.
Boston Capital Corporate Tax Credit Fund XXXVIII features 43 affordable housing developments in 16 states. The properties will provide 2,651 apartments.
The fund includes 10 developments for senior citizens and 33 properties for families across the United States. Fund XXXVIII will help create nearly 1,890 local jobs and generate nearly $141 million in local income.
With the closing of the latest fund, Boston Capital has raised $733 million in equity since January 2013. The firm will soon launch Corporate Fund XXXIX, a $120 million equity fund expected to close in September.