Boston Financial has raised a total of $170 million from its fund that will deploy capital to support affordable housing.
Boston Financial Institutional Tax Credits 60 Limited Partnership (ITC 60) attracted six institutional investors. Now closed, the fund received support from banks, and insurance companies. The capital is set to go to 14 affordable housing developers, with 30 percent of them representing nonprofits.
ITC 60 aims to create 1,418 homes in 16 communities. They are located in 13 states including North Carolina, Pennsylvania, Rhode Island, Tennessee, Texas, Virginia, California, Illinois, Louisiana, Maine, Wisconsin, Maryland, and Massachusetts.
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