Boston Financial Closes $182 Million Multi-Investor Fund

NEWS

October 2018

Boston Financial Closes $182 Million Multi-Investor Fund

Boston Financial Investment Management ("Boston Financial") is pleased to announce the closing of a $182 million Low Income Housing Tax Credit ("LIHTC") fund, Boston Financial Institutional Tax Credits XLIX Limited Partnership ("ITC 49"). ITC 49 is comprised of 17 tax credit investments, resulting in the financing of over 2,600 units of affordable housing across eleven family and six senior communities. The fund will provide much needed capital for the new construction and rehabilitation of multi-family properties in thirteen states: California, Georgia, Indiana, Iowa, Kentucky, Louisiana, Maryland, Massachusetts, Montana, New Jersey, New York, Pennsylvania and Washington. As a result of ITC 49's investments, 3,141 temporary and 800 permanent jobs will be created. Eight institutional investors representing the banking, financial services and insurance sectors participated in ITC 49, including four new investors to Boston Financial. "ITC 49 marks the closing of our second multi-investor fund in 2018. The ownership of ORIX USA, coupled with the strength of our team and platform, has enabled us to continue delivering best in class service and expanding our relationships with investors and developers alike," said Todd Jones, Senior Vice President of Institutional Sales.

Since 1969, Boston Financial has focused on providing exceptional client service to its partners and has built one of the most experienced management teams in the affordable housing industry. To date, Boston Financial has raised and managed over $11 billion of low-income housing and historic tax credit equity investments, comprising 2,400 properties and 220,000 units, making it one of the largest and most successful firms in the industry. Boston Financial is a wholly owned subsidiary of ORIX USA, a diversified financial services company headquartered in Dallas, TX with more than 1000 employees in 1000 offices across the U.S. and Brazil. Known for providing innovative capital solutions to clients, ORIX USA has over $10 billion of assets and manages an additional $63 billion on behalf of clients. Its parent company, ORIX Corporation, is a Tokyo-based international financial services company which has operations in 38 countries and regions and over 32,000 employees. With a market capitalization of $18 billion, ORIX Corporation is traded on both the Tokyo and New York Stock Exchanges. For more information on the ORIX family of companies, please visit .

Contacts: Sarah Laubinger 617.488.3230 | Todd Jones 502.450.9951

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