Boston Financial Ranked #1 Syndicator of Affordable Housing for Fourth Consecutive Year By NMHC
April 17 2024 - 10:00AM
Business Wire
Boston Financial, one of the longest-standing syndicators of
Low-Income Housing Tax Credits (“LIHTC”) in the U.S., has once
again been ranked the largest LIHTC multifamily housing syndicator
for the fourth consecutive year by National Multifamily Housing
Council (NMHC). The annual ranking highlights the country’s largest
affordable apartment owners, managers, developers, builders, and
syndicators.
“We are honored to once again be ranked as the largest
syndicator of LIHTC homes by NMHC,” said Thomas Paramore, Head of
Housing and Community Investments at Boston Financial. “As the
ongoing crisis in housing affordability continues to impact our
communities, the need to develop impactful affordable housing has
become even more immediate and critical. We are humbled to work
with trusted investors and developers to be part of the solution,
and we thank them for their continued partnership. We also
acknowledge and thank the entire Boston Financial team, who work
together every day to execute on our vision of creating a future
where everyone has a home, one investment at a time.”
Since the inception of the LIHTC program in 1986, Boston
Financial has worked with over 200 investors to preserve or build
over 360,000 affordable homes. This year’s #1 ranking also follows
the firm’s third straight year of closing over $1 billion in new
LIHTC equity.
As of January 2024, Boston Financial has over 163,000 affordable
rental homes in almost 2,000 communities across all 50 states in
its portfolio. “For many residents of these communities, an
affordable home means so much more. Our investments support efforts
to increase the supply of housing and contribute to job generation
and economic growth in urban and rural communities across the
U.S.,” added Noreen Short, Chief Credit Officer.
Boston Financial provides creative capital solutions for
affordable housing developers and gives institutional investors an
opportunity to achieve solid risk-adjusted returns while creating
meaningful social impact. In addition to a core Low-Income Housing
Tax Credit syndication business, Boston Financial provides
affordable housing preservation equity, impact funds, and U.S.
Treasury-certified Community Development Financial Institution
(CDFI) lending opportunities.
This year marks the 35th edition of the NMHC Top 50 lists.
Apartment owners, managers and syndicators are ranked based on
their portfolio holdings (either owned or managed) as of January 1,
2024, while developers and builders are ranked based on the number
of units started in 2023.
About Boston Financial:
Founded in 1969 and acquired by ORIX Corporation USA in 2016,
Boston Financial is the largest Low Income Housing Tax Credits
(“LIHTC”) syndicator in the country, managing a $16.3 billion
portfolio comprising almost 2,000 properties. Boston Financial’s
vision is to create a future where everyone has a home, one
investment at a time.
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Boston Financial Patrick Duggan Patrick.Duggan@BFIM.COM Tel:
617-488-3565