Boston Capital has opened Boston Capital Tax Credit Fund XXXII, a $150 million diversified portfolio of affordable apartment properties.
This new launch follows the successful closing of Fund XXXI, a nationally diversified portfolio of 30 affordable apartment properties in 12 states with total equity invested of $120 million. Boston Capital’s Fund XXXI included 12 developments for seniors and 18 properties focused on families and added an additional 2,109 apartment units to the firm’s holdings, which total more than 166,500 apartments.
Boston Capital expects to launch and close two multi-investor national funds, including Fund XXXII, totaling $250 million to $275 million by March 31, 2010. Company leaders said they will also continue to close business with their proprietary fund relationships, which cater to those investors seeking customized portfolios. These transactions have accounted for a growing portion of the firm’s business in recent years.