Boston Financial’s 63rd Tax Credit Fund Secures $191M of Commitments

Boston Financial, the longest-standing syndicator focused exclusively on affordable housing, has closed on Boston Financial Institutional Tax Credits 63 Limited Partnership (ITC 63), a $191-million multi-investor Low-Income Housing Tax Credit (LIHTC) fund.

Seven institutional investors participated in ITC 63, enabling the deployment of capital with 14 affordable housing developers across 16 communities in 12 states The fund will provide capital for both new construction and preservation efforts, supporting the creation or preservation of 1,342 affordable rental homes.

“ITC 63 reflects the strength of the relationships we have built with both our investor and developer partners over many years,” said Rob Golden, CEO of Boston Financial. “We are deeply grateful for the trust our investors place in us and for the extraordinary work our developer partners do every day to bring affordable housing to communities across the country.”

ITC 63 also reflects the ongoing support of Boston Financial’s parent company, ORIX USA, whose balance sheet provides enhanced flexibility and execution capabilities for the firm’s affordable housing platform.

Pictured: Fitchburg Yarn Mill Apartments in Fitchburg, MA, an adaptive reuse project financed through Boston Financial.