Boston Financial Investment Management announced the closing of a $152 million low-income housing tax credit fund.
Boston Financial Institutional Tax Credits XLII (ITC 42) includes 21 properties in 10 states—California, Connecticut, Florida, Massachusetts, New York, Pennsylvania, Rhode Island, South Carolina, Tennessee, and Washington.
Along with the construction and rehabilitation of 1,989 units of affordable housing, more than 2,400 temporary and 600 permanent jobs will be created as a result of ITC 42’s investments.
Seven investors took part in the fund.
Boston Financial Investment Management has assets under management of approximately $8.2 billion representing investments in 122 tax credit funds.
