News
CAPITAL INVESTMENT
April 26, 2011
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| Boston Capital's David Gasson told us late last week that his firm invested $20M to renovate two affordable housing projects for seniorsin Rosedale and Randallstown, totaling 212 units. The tax-credit deal was completed through a partnership with Shelter Development, and Boston Capital will take ownership of the properties when work finishes. Shelter originally received the affordable housing tax credits, David tells us, but sold them to Boston in exchange for equity in the two projects. Boston Capital typicallyinvests in around 10,000 units in rehabs per year, David says. |
