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Boston Capital Launching $150M Fund

BOSTON-The Boston Capital Tax Credit Fund XXXII will focus on affordable apartment properties throughout the nation.

By Ryan Clark | Updated on July 16, 2009

BOSTON-Boston Capital is launching a new fund clocking in at $150 million. The Boston Capital Tax Credit Fund XXXII will focus on affordable apartment properties across the country.

The fund is looking to take advantage of the “rise in LIHTC yields to double digit[s]” and the “ drop in Treasury rates,” according to a statement. Recently, Boston Capital closed on its Fund XXXI, which also focused on affordable apartments. The XXXI fund leveled out with 30 affordable apartments over 12 states with a total equity invested of $120 million.

“We review and acquire properties from all regions of the country as the portfolio of our recent Fund XXXII reflects,” Kevin Costello, director of institutional investing at Boston Capital tells GlobeSt.com, pointing out that they are not looking for distressed assets at this point. Boston Capital is eying the struggling multifamily markets, as well as oft-positively performing ones.

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