March 13, 2019 — Boston Capital announced the closing of Boston Capital Corporate Tax Credit Fund XLVI, a nationally diversified portfolio of 15 affordable apartment properties in seven states with a fund size of $112 million. The Fund includes nine properties for families, five properties for seniors and one property serving those with special needs including homelessness.
“Given the critical demand for affordable housing across the country, we are pleased that this Fund will create or preserve more than 1,100 homes for families, seniors, the homeless and those with special needs,” said Jack Manning, president and CEO of Boston Capital. “With 45 years of experience in affordable housing, we continue to achieve the best results in the marketplace by providing superior investment opportunities and teaming with the finest developer partners.”
The properties acquired by Fund XLVI add an additional 1,123 apartment units to Boston Capital’s holdings. Since January 2018, Boston Capital has raised $779 million in equity. Boston Capital is preparing to launch Corporate Fund XLVII, a $150 million fund, in the second quarter of 2019.
“In addition to creating and preserving high-quality affordable homes for residents, Boston Capital’s investments impact communities by generating income, tax revenue and other sources of revenue for local governments by creating much-needed jobs and spurring economic development. These positive impacts demonstrate both the success and necessity of the low income housing tax credit (LIHTC) program,” added Manning.