/

|

Boston Financial has closed its latest Low Income Housing Tax Credit multi-investor fund, a $170 million investment vehicle that will provide capital for the creation and preservation of 1,418 affordable units in 16 communities across 13 states.

The LIHTC fund, Institutional Tax Credits 60 Limited Partnership, secured commitments from six institutional investors, including a mix of regional and national banks and insurance companies. The fund will deploy capital to 14 affordable housing developers—30 percent of whom are nonprofit organizations. ITC 60 will be providing funding for new construction and preservation projects in 13 states: California, Illinois, Louisiana, Maine, Maryland, Massachusetts, North Carolina, Pennsylvania, Rhode Island, Tennessee, Texas, Virginia and Wisconsin.