November 20, 2024 – Boston Capital Finance (BCF) is pleased to announce the closing of another fixed rate forward taxable affordable loan.  

The development, Columbus Square III, a new construction apartment complex in Montgomery, Alabama will house 60 affordable units serving families at 50% and 60% AMI.

“We are thrilled to be working with the skilled Houston based ITEX Development.   Quality affordable housing is in great need in Montgomery, Alabama and Columbus III is perfectly designed to aid in that regard,” said Sean Curry, Partner, and Director of Investments and Originations.

“Our Boston Capital Long Term Mortgage Fund VI is a unique 9% forward delayed product.  This non-agency, private placement, 40-year amortizing loan product can be paired with any equity investment and construction loan of a developer’s choosing.  We are able to offer an exclusive re-rate lock feature that allows the developer the ability to re-lock at a lower benchmark at stabilization,” said Bill Fazzano, Partner, and Director of Underwriting.  

Boston Capital Finance

BCF is a Boston, Massachusetts based boutique affordable lender with offices in Charleston, South Carolina and Phoenix Arizona.  BCF founded in 1994 provides construction-to-permanent financing on properties that have or will obtain low-income housing tax credits.  The firm is owned and managed by Jack Manning, Kevin Costello, Bill Fazzano and Sean Curry has closed over $4.2 billion of affordable bonds and loans.  

Have an affordable tax-exempt bond or taxable permanent loan that needs to be financed? Please call:

Sean Curry, Originations and Investments, 781-526-4319 scurry@bostoncapital.com

Walter Williams, Originations, 617-694-5182 wwilliams@bostoncapital.com

Don Phelan, Originations, 860-614-8650 dphelan@bostoncapital.com

Bill Fazzano, Underwriting 617-331-4098, bfazzano@bostoncapital.com