January 26, 2023 — Boston Capital Finance (BCF) is pleased to announce another construction to permanent, tax-exempt bond closing. Creekside Manor I and II are fully leased, senior tenanted 92-unit affordable housing apartment buildings located in Clearwater, Florida. Built in 1991 and 1992 respectively, the buildings have had nonprofit ownership and management ever since. The property will be rehabilitated which will help allow its elderly tenants to safely and comfortably age in place.

“This property has served the needs of at risk seniors for the past 32 years and we are pleased to help Creekside Manor I and II and its nonprofit sponsor continue with this mission,” said Don Phelan, Director and special consultant to BCF. “Creekside Manor I and II is another example of our affordable lending commitment to Florida and a great addition to our growing affordable portfolio. As borrowers evaluate lending options, time and again they choose a more borrower friendly private placement execution,” said Sean Curry, Director of Investments and Originations.

About the Developer
Volunteers of America (VOA) was formed in 1896 and is one of the nation’s largest and most comprehensive human services organizations, touching the lives of 1.5 million people each year in hundreds of communities across the United States. “We are thrilled to continue our partnership with VOA on Creekside Manor I and II,” said Bill Fazzano, Director of Asset Management and Underwriting.

Boston Capital Finance
BCF was founded in 1994 as a wholly owned subsidiary of Boston Capital Corporation and provides construction-to-permanent affordable bond financing as well as fixed rate forward permanent affordable loans via the proprietary Boston Capital Long Term Mortgage Fund VI. BCF owned and managed by Jack Manning, Kevin Costello, Bill Fazzano and Sean Curry has closed over $3.3 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 781-526-4319, scurry@bostoncapital.com
Bill Fazzano 617-331-4098, bfazzano@bostoncapital.com
Walter Williams 617-694-5182, wwilliams@bostoncapital.com
Don Phelan 860-614-8650, dphelan@bostoncapital.com