Stratford Capital Group has closed Stratford Fund V Limited Partnership, an $80 million low-income housing tax credit (LIHTC) investment limited partnership comprised of 15 affordable rental apartment properties in nine states.
Fund V is comprised of eight institutional investors, including an affiliate of Stratford Capital. “The LIHTC landscape continues to be very competitive,” said Benjamin Mottola, president of Stratford Capital Group, in a statement. “We are proud that Fund V will provide equity capital to facilitate the development of over 1,600 units of quality affordable housing.”
Stratford Capital is currently launching Stratford Fund VII, LP, a $100 million low-income housing tax credit fund that is expected to close in early 2012.
Stratford Capital is a privately held Boston-based real estate investment and development firm experienced in affordable and conventional multifamily rental housing. Its current multifamily rental housing portfolio consists of 9,200 units in 22 states and the District of Columbia.