Boston Capital closed its Boston Capital Tax Credit Fund XXXII, a nationally diversified portfolio of 36 affordable apartment communities in 16 states with a total fund size of $224.5 million.
“At a challenging time for the U.S. economy and the credit markets, we are very pleased to close a fund consisting of high quality assets and strong investor interest in these assets,” says Jack Manning, President and CEO of Boston Capital. “We believe the increased investor interest in this fund and our subsequent offerings is an indicator of the economic recovery.”
The properties acquired by Corporate Fund XXXII will add an additional 3,581 apartment units to Boston Capital’s holdings, which currently total 162,677 apartments. The properties are located across 16 states.
Boston Capital recently launched Fund XXXIII, a $275 million fund expected to close in mid-2010.