October 6, 2010, Boston, MA – Boston Capital announced the closing of Boston Capital Tax Credit Fund XXXIII, a nationally diversified portfolio of 49 affordable apartment properties in 20 states and the District of Columbia with a total Fund size of $305 million. With this closing, Boston Capital has invested $472 million in equity since January 2010.
"Fund XXXIII, one of the largest Funds we've closed in years, is the result of high-quality assets and strong investor interest in this offering due to its attractive yield," said Jack Manning, president and CEO of Boston Capital. "Boston Capital continues to achieve strong investment results through our specialized finance and investment programs. We take great pride in forming long-term partnerships with our developer partners and our investors. Our goal is to continue to achieve the best results in the marketplace."
The properties acquired by Corporate Fund XXXIII add an additional 4,287 apartment units to Boston Capital's holdings. The Fund includes 19 developments for senior citizens and 30 properties which will be available to families. The properties are located in the District of Columbia and 20 states including CA, DE, FL, KS, KY, MA, ME, MD, MO, MS, MT, NC, NH, NJ, NY, TX, VA, WA, WI and WY.
Boston Capital is currently launching Fund XXXIV which is expected to close in March 2011. Boston Capital also continues to close business with its proprietary fund relationships.
About Boston Capital:
Boston Capital, headquartered in Boston, MA, is a real estate investment and advisory firm specializing in tax advantaged investments in affordable multifamily housing and equity investment in market rate apartment communities. Boston Capital's holdings include more than 2,575 multifamily apartment properties in 49 states and the District of Columbia, constituting more than 162,677 apartments with a development cost in excess of $12 billion. Boston Capital is the largest owner/investor of apartment properties in the US.
For more information:
Allison E. Marino
Corporate Communications
Boston Capital
One Boston Place
Boston, MA 02108-4406
(617) 624-8678