Boston Financial, a prominent syndicator of Low-Income Housing Tax Credits (LIHTC) in the United States, has once again secured the top spot as the largest LIHTC multifamily housing syndicator for the fourth consecutive year, as per the National Multifamily Housing Council (NMHC). The NMHC’s annual ranking showcases the leading affordable apartment owners, managers, developers, builders, and syndicators in the nation.
“We are honored to once again be ranked as the largest syndicator of LIHTC homes by NMHC,” stated 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 LIHTC program’s inception in 1986, Boston Financial has collaborated with over 200 investors to preserve or construct more than 360,000 affordable homes. This year’s #1 ranking coincides with the firm’s third consecutive year of closing over $1 billion in new LIHTC equity.
As of January 2024, Boston Financial manages over 163,000 affordable rental homes in nearly 2,000 communities across all 50 states. “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 offers innovative capital solutions for affordable housing developers and provides institutional investors with opportunities to achieve solid risk-adjusted returns while making significant social impact. Alongside its core Low-Income Housing Tax Credit syndication business, Boston Financial offers affordable housing preservation equity, impact funds, and U.S. Treasury-certified Community Development Financial Institution (CDFI) lending opportunities.
The 35th edition of the NMHC Top 50 lists ranks apartment owners, managers, and syndicators based on their portfolio holdings as of January 1, 2024, while developers and builders are ranked based on the number of units started in 2023.
About Boston Financial:
Established in 1969 and acquired by ORIX Corporation USA in 2016, Boston Financial stands as 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.
