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Boston Financial Closes LIHTC Fund at $170M

Boston Financial, reportedly the largest syndicator of U.S. Low-Income Housing Tax Credits, has closed Boston Financial Institutional Tax Credits 60 Limited Partnership, a $170-million multi-investor LIHTC fund. The fund secured commitments from six institutional investors, enabling the deployment of capital with 14 affordable housing developers.

ITC 60 represents the continued support of Boston Financial’s parent company, ORIX USA, for its LIHTC platform, the company said. The fund will provide capital for new construction and preservation of 1,418 affordable rental homes in 16 communities across 13 states: California, Illinois, Louisiana, Maine, Maryland, Massachusetts, North Carolina, Pennsylvania, Rhode Island, Tennessee, Texas, Virginia and Wisconsin.

“ITC 60 is the first new LIHTC multi-fund that Boston Financial has closed since I assumed the role of CEO in May of this year, and I am very pleased at this successful closing,” said Rob Golden, CEO of Boston Financial.

Pictured: Boston Financial headquarters, 225 Franklin St. in Boston.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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