Boston Financial Investment Management’s latest low-income housing tax credit fund is investing in 16 family and seniors housing properties in 14 states.

The tax credit syndicator announced that it has closed the $86 million Boston Financial Institutional Tax Credits XXXIX fund with seven investors.

In addition to the new construction and rehabilitation of 1,109 units of affordable housing, 1,300 temporary and 300 permanent jobs will be created as a result of the fund’s investments, reports Boston Financial.

Boston Financial plans to close another multi-investor fund at the end of the year.

The firm’s assets under management totaled about $9 billion representing investments in 126 tax credit funds as of March 31.