"This is a fund that is already investing in properties, so whenwe closed the fund it means we closed the raising of the money thatwas going into deals which we've already acquired in ourportfolio," David Gasson, VP and director of corporatecommunications of Boston Capital, tells GlobeSt.com. "So, the fundis closed now, the deals have been acquired and most of them, allof them, I believe, are new construction."


The fund has 3,281 apartment units in total, including threesenior and six EarthCraft House certified developments. TheEarthCraft House program is a voluntary program that engendersgreen building by providing a blueprint for homes that reduceutility bills and protect the environment. The program began in1999 strictly in Atlanta and the Atlanta-metro region, but hassince expanded throughout the southeastern US. The six developmentsacquired by Fund XXX are in Virginia.


"At a challenging time for the US economy and credit markets, weare very pleased to close a fund consisting of high quality assetsand strong investor interest in these assets," says Jack Manning,president and CEO of Boston Capital, in a statement. "The appetitefor these investments is reflective of the high standards inherentin our investment offerings. We will continue to provide ourdeveloper partners and our investors the best finance andinvestment programs in the business."


Boston Capital plans to launch and close another fund by the endof 2008 for $150 to $200 million. This fund will also focus onaffordable properties.

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