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Boston Capital Closes MF Fund With Eyes On The Next One

It plans to realize more than $350 million in acquisitions of multifamily properties in the US.

Boston

BOSTON–Boston Capital has announced the final closing of the Boston Capital Income and Value US Apartment Fund, or BCIV. The fund is a multi-investor, discretionary and Luxembourg-based vehicle of funds. Investors include financial institutions, insurance companies, pension funds and wealth management offices. Boston Capital expects to realize more than $350 million of apartment acquisitions in the US via the fund.

Namely the fund is targeting Class B apartments in major and secondary markets that have a discounted lease rate level below new construction. It says this is a segment of interest to upper and middle-income renter profiles, especially after renovations are done to the properties.

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Erika Morphy

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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