Boston Firm Ranked Largest Apartment Owner in U.S.

BOSTON, MA - The National Multi Housing Council (NMHC) recognized Boston Capital, the Boston-based real estate investment firm founded by Jack Manning in 1974, as the largest owner of apartments in the country (click here for complete survey results). With more than 157,423 units across 49 states, the District of Columbia and two U.S. territories, Boston Capital retained the top spot on the NMHC 50 owners list for the third year in a row, and marked its 21st year in the top 10. 

"Boston Capital's primary objective is to provide our developer partners and investors with the best financial services and investment opportunities in the business," said Jack Manning. "We recognize that we are all partners for the long term and therefore we must emphasize quality in our investment offerings. This philosophy significantly contributes to Boston Capital's continued growth and success in this industry."

Boston Capital continues to demonstrate steady growth and the ability to achieve attractive returns. The company recently closed Corporate Fund XXXV, a nationally diversified portfolio of 53 affordable rental apartment properties in 21 states with a total equity investment of $350 million and total development cost of $443.6 million. Boston Capital is currently launching Corporate Fund XXXVI, a $200 million equity fund expected to close in September 2012 and will continue to expand its proprietary fund relationships as well. Since January 2011, Boston Capital has invested approximately $640 million in equity in affordable multifamily apartment properties.

About Boston Capital
Boston Capital, headquartered in Boston, MA, is a real estate investment firm specializing in tax advantaged investments in affordable multifamily housing, energy, film and economic development and equity investment in market rate apartment communities. Boston Capital's holdings include nearly 2,400 multifamily apartment properties in 49 states and the District of Columbia, constituting 157,425 apartments with a development cost in excess of $13.4 billion. Boston Capital is the largest owner/investor of apartment properties in the US.