Boston Financial Closes First National Multi-Investor Fund of 2025

Boston Financial, the longest-standing syndicator focused exclusively on affordable housing with a portfolio of over $16 billion in assets under management, recently announced the closing of Boston Financial Institutional Tax Credits 61 Limited Partnership (“ITC 61”), a $112 million multi-investor LIHTC fund.

Boston Financial secured commitments from five institutional investors for ITC 61, including a mix of regional and national banks, enabling the deployment of capital with 11 affordable housing developers – 36% of whom are nonprofit organizations. The fund will provide capital for both new construction and preservation of 1,112 affordable rental homes in 12 communities across nine states: Arizona, Delaware, Louisiana, Massachusetts, North Carolina, Rhode Island, Texas, Virginia, and Washington.

“In our current market, it takes a village to build new affordable housing, and to preserve the affordable housing we have already,” said Rob Golden, CEO of Boston Financial. “Boston Financial has been solely focused on affordable housing for almost 60 years, with a nationwide platform that brings together developers and investors with state and local governments to get housing done. It means a lot that our partners continue to trust in our vision and track record. ITC 61 is our first multi-fund of 2025, and with it we see real momentum for the year ahead.”

ITC 61 is expected to create over 1,800 new jobs, bringing an estimated $218 million in wages and business income to surrounding communities, as well as over $79 million in tax revenue. Several of the properties will have units designated for seniors, people with physical or mental disabilities, and formerly unhoused families.

Since the beginning of the LIHTC program in 1986, Boston Financial has worked with over 200 investors to preserve or build almost 400,000 affordable homes. Boston Financial’s vision is to create a future where everyone has a home, one investment at a time. Boston Financial was founded in 1969 and acquired by ORIX Corporation USA in 2016.