Boston Capital announced that it has closed its $350 million Boston Capital Tax Credit Fund XXXV.
The company’s latest fund features 53 affordable apartment communities in 21 states. The properties–18 for seniors and 35 for families–add 3,610 units to Boston Capital’s holdings.
Fund XXXV includes 1,093 newly constructed units, which will result in the creation of more than 1,661 local jobs and will generate more than $112.5 million in local income. The fund also includes 2,517 rehabilitated units, which is expected to create approximately 1,084 local jobs and generate more than $95 million in local income.
With the latest closing, Boston Capital has raised nearly $640 million in equity since January 2011.