May 21, 2024

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Business is my step

Boston Monetary Completes Boston Funds Acquisition| Housing Finance Journal

1 min read

Boston Monetary Investment Administration has done the acquisition of Boston Capital’s reduced-income housing tax credit score fund (LIHTC) portfolio, reported business officers. The offer was announced in September.

Greg Voyentzie
Greg Voyentzie

With the addition of Boston Capital’s LIHTC fund portfolio, Boston Economic manages much more than 2,300 underlying property and 190 LIHTC resources, and the company’s equity below administration has just about doubled from $7.7 billion to $15 billion.

“The put together portfolio dramatically expands our strategic footprint and motivation to the development of affordable housing,” said Boston Financial CEO Greg Voyentzie. “I am extremely fired up about the prospects this transaction presents us to broaden our interactions with fund investors and developer clients to address the developing want for reasonably priced housing throughout the place.”

Davis Polk & Wardwell and Holland & Knight served as authorized advisers to ORIX United states. Nixon Peabody served as authorized adviser to Boston Money.

Started in 1969, Boston Fiscal was acquired by ORIX United states in 2016. It is one particular of various cost-effective housing corporations acquired by the business in modern years. Its subsidiaries also incorporate Lument, the combined corporation of Hunt Serious Estate Capital, Lancaster Pollard, and Red Money.

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