Peabody, Massachusetts, September 27, 2010: (“Stratford Capital”) is pleased to announce the closing of Stratford Fund III Limited Partnership (“Fund III”), a $50 million low-income housing tax
credit investment limited partnership.
Fund III is comprised of six institutional investors including an affiliate of Stratford Capital. “We are proud to have received such a significant vote of confidence from the investors in Fund III. We were able to attract existing investors as well as several new investors in a very difficult economic environment” said Benjamin Mottola, President of Stratford Capital Group.
Stratford Capital is a privately held Boston based real estate investment and development firm whose principals have over 100 years of combined experience in all aspects of affordable and conventional multifamily rental housing. Stratford Capital’s current multifamily rental housing portfolio consists of 6,680 units in seventeen 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.