Boston Financial Investment Management has closed a $166 million low-income housing tax credit (LIHTC) fund.
The firm’s latest multi-investor fund, Boston Financial Institutional Tax Credits XLI (ITC 41), is investing in 21 properties in 14 states. Seven investors are participating in the fund.
Along with the new construction and rehabilitation of more than 2,000 units of affordable housing, ITC 41’s investments will help create 2,400 temporary and 600 permanent jobs.
The properties are in California, Connecticut, Delaware, Florida, Kentucky, Louisiana, Massachusetts, Maryland, Minnesota, North Carolina, Pennsylvania, Rhode Island, Washington, and Wisconsin.
Boston Financial is a leading LIHTC syndicator and asset and portfolio manager. To date, the company has syndicated 160 institutional funds that have raised $10.2 billion for approximately 2,300 properties nationwide, making Boston Financial one of the largest firms in the tax credit industry.