Boston Financial has been a leader in real estate investment management for over forty years. With headquarters in Boston, Massachusetts, we manage approximately $10 billion in real estate investments for over 125 institutional clients and 16,000 individual investors from across the United States.
Our company began in 1969 as a private partnership established to connect individual investors to affordable housing real estate investments. Over the next 27 years, we worked to raise $700 million from 5,800 individuals and invested in 62,000 apartments units nationwide.
In 1986, the Internal Revenue Service enacted the Low Income Housing Tax Credit Program. The program allowed investors to receive a credit against their federal taxes in exchange for providing or renovating housing at rents with reach of low-income people. Boston Financial, as a syndicator, began acquiring low-income housing tax credits from developers by investing equity in their housing developments in exchange for their tax credits. We then created investment funds that allowed the tax credits to be distributed to investors. Investors were invited to purchase interests in these funds and receive the tax benefits of the investment.
The program quickly made Boston Financial an industry leader. Soon after, we became the first to introduce a public tax credit fund on Wall Street and the first for-profit firm to introduce an institutional tax credit fund.
Today Boston Financial continues to be ranked among the largest apartment owners in the National Multi-Housing Council’s annual survey with a nation-wide LIHTC portfolio of over 180,000 units.
In 1990, recognizing the lack of quality market analysis in the affordable housing industry, Boston Financial established our own real estate valuation team, Market Advantage REVAC. Since its formation, REVAC has completed market studies for over 2100 LIHTC properties in the US, Puerto Rico and the Virgin Islands.
Our services expanded again in 2006 with the creation of Corporate Intelligence Group, LLC, an in-house investigative group that assists our clients in a variety of fact-finding specialties.
In 2009, Boston Financial was acquired by JEN Partners and Real Estate Capital Partners. Under this new ownership structure, we look forward to continuing our commitment to quality affordable housing investment.