Stratford Capital Group has announced the closing of a $110 million low-income housing tax credit (LIHTC) fund.
Stratford Fund XVII features 14 properties—eight family and six senior housing developments—in nine states. Upon completion, the properties will provide more than 1,600 affordable apartment homes.
“The closing of Fund XVII caps the most successful year to date for Stratford Capital along with the addition of several new investors during 2015” said Ben Mottola, president of Stratford Capital Group, in a statement. “The continued success of Stratford Capital is the direct result of the hard work and high level of integrity of our team members along with the continued trust of our investor and developer partners. We look forward to continued growth in 2016.”
The LIHTC fund includes seven institutional investors and co-investment by Stratford Capital.
Stratford Capital is a privately owned national real estate investment and development firm, with a particular focus on affordable rental housing. The firm has offices in Boston and Vienna, Va. Stratford Capital’s multifamily rental housing portfolio consists of over 17,100 apartment units located in 28 states and the District of Columbia.