Peabody, Massachusetts, December 28, 2015: (“Stratford Capital”) is pleased to announce the closing of Stratford Fund XVII Limited Partnership (“Fund XVII”), a $110 million Low-Income Housing Tax Credit fund which is comprised of 8 family and 6 senior affordable rental apartment properties located in 9 states.
Fund XVII includes 7 institutional investors and co-investment by Stratford Capital. Upon completion of the development of the 14 properties, Fund XVII will provide over 1,600 affordable apartment units for rental to families and seniors across the nation.
“The closing of Fund XVII caps the most successful year to date for Stratford Capital along with the addition of several new investors during 2015” said Ben Mottola, President of Stratford Capital Group. “The continued success of Stratford Capital is the direct result of the hard work and high level of integrity of our team members along with the continued trust of our investor and developer partners. We look forward to continued growth in 2016”.
About Stratford Capital:
Stratford Capital is a privately owned national real estate investment and development firm, with a particular focus on affordable rental housing, with offices in Boston, Massachusetts and Vienna, Virginia. The principals of Stratford Capital have over 100 years of combined experience in all aspects of Low-Income Housing Tax Credit investment and development. Stratford Capital’s current multifamily rental housing portfolio consists of over 17,100 apartment units located in twenty-eight states and the District of Columbia.
I have worked with the principals of the Stratford Capital Group for several years and have invested in a number of their multifamily offerings as an economic joint venture partner, for tax credits and also as a bridge loan participant. They are disciplined, know what the objectives are and detailed from an asset management perspective. Our relationship has been rewarding, and throughout it, they have treated us like partners.