PEABODY, MASS.—Stratford Capital Group, LLC, reported raising more than $125 million in equity for 21 low-income housing tax credit (LIHTC) developments last year.
The properties will provide 2,879 affordable apartments in Arkansas, Connecticut, Florida, Georgia, Iowa, Kentucky, Louisiana, Maryland, Michigan, Minnesota, and Wisconsin.
The properties included both 4 percent and 9 percent LIHTC deals.
“Our success during 2010 was due, in large part, to the strong relationships and high level of trust that we have cultivated with both LIHTC developers and investors over the past decade, along with our ability to execute transactions,” said Ben Mottola, Stratford president and COO.
Stratford Capital is a five-year-old real estate investment, development, and asset management firm. Its multifamily rental housing portfolio consists of about 8,000 rental apartments in 19 states and the District of Columbia.