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ORIX to Acquire One of the Largest U.S. LIHTC Fund Portfolios through Agreement with Boston Capital

14 September 2020 by Welton Corridor

 
“TOKYO, Japan – September 14, 2020 – ORIX Corporation (“ORIX”) announced today that Boston Financial Investment Management (“Boston Financial”), a wholly-owned subsidiary of ORIX Corporation USA (“OCU”), has entered into an agreement with Boston Capital (“Boston Capital”) to acquire Boston Capital’s low-income housing tax credit (“LIHTC”) fund portfolio. The closing of the transaction is subject to customary closing conditions and approvals. Established by the U.S. Congress in 1986, LIHTC is a tax incentive program designed to promote the supply of affordable rental housing for low-income households. Private developers of affordable rental housing projects are awarded the 10-year tax credit issued by the federal government via state and territorial governments, if developers meet certain required conditions.

LIHTC syndicators such as Boston Financial and Boston Capital bridge the gap between developers that are seeking to raise funds by selling the tax credits and the needs of investors pursuing the tax advantages of the tax credits. Acquired by OCU in 2016*1

Boston Financial has established itself as a leader in the LIHTC industry, and today manages a $7.7 billion portfolio comprising over 1,125 properties and 98,110 units. The purchase of Boston Capital’s portfolio will nearly double the portfolio to $15 billion, leading to an increase in associated revenue. These additional assets under management will be serviced by Boston Financial’s best-in-class infrastructure, resulting in expected operational efficiencies and synergies. Post-acquisition, we expect that Boston Financial will enjoy a top position in the LIHTC asset management industry and is well-positioned to expand further via additional opportunistic investments.”
 
read the entire article
 
Orix 14 September 2020.
 

Posted in: Charity House Tagged: 3020 Welton, 3022 Welton, 3026 Welton, Bond Projects, Boston Financial Investment Management, Charity House Apartments LLLP, Colorado Housing and Finance Authority, Funding, low income housing tax credits, Orix
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About

Informational links, announcements, and media coverage for Denver, Colorado's Welton Corridor neighborhood meetings, development projects, transit issues, Business Improvement District, and community affairs.

Recent Posts

  • Melody Market will close at the end of January. It’s the latest Black-owned business to leave Welton Street 19 January 2023
  • Haroun Cowans, new chair of the Five Points BID, talks the future of Welton Street 16 January 2023
  • Is Five Points dead? Co-owners of a new business have a few things to say about Denver’s historic neighborhood 6 January 2023
  • History Colorado is heading out on a road trip to research and preserve Green Book sites 5 January 2023
  • Marigold, a plant store and bar, to open in Five Points 5 January 2023
  • After temporary hiatus, Coffee at the Point permanently closes 4 January 2023
  • RTD is officially killing its C and F lines after suspending them during the pandemic 14 December 2022
  • Five Points and West Colfax are hoping people stop by to shop and donate 7 December 2022
  • RTD will shut down the L line for two months in the spring 15 November 2022

Upcoming Events

Jan
30
Mon
2023
3:30 pm Denver City Council Meeting @ Cathy Reynolds City Council Chamber
Denver City Council Meeting @ Cathy Reynolds City Council Chamber
Jan 30 @ 3:30 pm – 8:00 pm
Denver City Council Calendar https://denver.legistar.com/Calendar.aspx Monday Meetings Begin at 3:30 p.m. and recess between 5:00 and 5:30 p.m. for the General Public Comment. The council meeting continues at 5:30 p.m. City Council meetings are open ... [Read more...]
Feb
2
Thu
2023
6:30 pm Curtis Park Neighbors Public Mee... @ Mile High United Way
Curtis Park Neighbors Public Mee... @ Mile High United Way
Feb 2 @ 6:30 pm – 8:00 pm
  The Curtis Park Neighbors meets at 6:30 pm the first Thursday of every month at Mile High United Way 711 Park Avenue, Denver, CO.   AGENDA   Curtis Park Neighbors website.   Meeting dates ... [Read more...]
Feb
6
Mon
2023
3:30 pm Denver City Council Meeting @ Cathy Reynolds City Council Chamber
Denver City Council Meeting @ Cathy Reynolds City Council Chamber
Feb 6 @ 3:30 pm – 8:00 pm
Denver City Council Calendar https://denver.legistar.com/Calendar.aspx Monday Meetings Begin at 3:30 p.m. and recess between 5:00 and 5:30 p.m. for the General Public Comment. The council meeting continues at 5:30 p.m. City Council meetings are open ... [Read more...]
Feb
8
Wed
2023
7:00 pm Heart of Five Points RNO Meeting
Heart of Five Points RNO Meeting
Feb 8 @ 7:00 pm – 8:30 pm
Heart of Five Points webpage https://www.heartoffivepoints.com/ Meetings second Wednesday of the month 7:00 PM
Feb
13
Mon
2023
3:30 pm Denver City Council Meeting @ Cathy Reynolds City Council Chamber
Denver City Council Meeting @ Cathy Reynolds City Council Chamber
Feb 13 @ 3:30 pm – 8:00 pm
Denver City Council Calendar https://denver.legistar.com/Calendar.aspx Monday Meetings Begin at 3:30 p.m. and recess between 5:00 and 5:30 p.m. for the General Public Comment. The council meeting continues at 5:30 p.m. City Council meetings are open ... [Read more...]
Feb
20
Mon
2023
3:30 pm Denver City Council Meeting @ Cathy Reynolds City Council Chamber
Denver City Council Meeting @ Cathy Reynolds City Council Chamber
Feb 20 @ 3:30 pm – 8:00 pm
Denver City Council Calendar https://denver.legistar.com/Calendar.aspx Monday Meetings Begin at 3:30 p.m. and recess between 5:00 and 5:30 p.m. for the General Public Comment. The council meeting continues at 5:30 p.m. City Council meetings are open ... [Read more...]
Feb
23
Thu
2023
10:00 pm Curtis Park Ice Festival @ Stout Street Children's Park
Curtis Park Ice Festival @ Stout Street Children's Park
Feb 23 @ 10:00 pm – Feb 24 @ 12:00 am
Cupcakes, hot chocolate, ice sculptures, games and snow cones for kids at the Stout Street Children’s Park, 25th and Stout. Sponsored by Curtis Park Stewards, Curtis Park Neighbors, and Curtis Park Kids.
Feb
27
Mon
2023
3:30 pm Denver City Council Meeting @ Cathy Reynolds City Council Chamber
Denver City Council Meeting @ Cathy Reynolds City Council Chamber
Feb 27 @ 3:30 pm – 8:00 pm
Denver City Council Calendar https://denver.legistar.com/Calendar.aspx Monday Meetings Begin at 3:30 p.m. and recess between 5:00 and 5:30 p.m. for the General Public Comment. The council meeting continues at 5:30 p.m. City Council meetings are open ... [Read more...]
Mar
2
Thu
2023
6:30 pm Curtis Park Neighbors Public Mee... @ Mile High United Way
Curtis Park Neighbors Public Mee... @ Mile High United Way
Mar 2 @ 6:30 pm – 8:00 pm
  The Curtis Park Neighbors meets at 6:30 pm the first Thursday of every month at Mile High United Way 711 Park Avenue, Denver, CO.   AGENDA   Curtis Park Neighbors website.   Meeting dates ... [Read more...]
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