Peabody, Massachusetts, October 31, 2011: (“Stratford Capital”) is pleased to announce the closing of Stratford Fund V Limited Partnership (“Fund V”), an $80 million low-income housing tax credit
investment limited partnership comprised of 15 affordable rental apartment properties located in 9 states.
Fund V is comprised of eight institutional investors including an affiliate of Stratford Capital. “The LIHTC landscape continues to be very competitive” said Benjamin Mottola, President of Stratford Capital Group, “We are proud that Fund V will provide equity capital to facilitate the development of over 1,600 units of quality affordable housing.”
Stratford Capital is currently launching Stratford Fund VII, LP, a $100 million low-income housing tax credit fund which is expected to close in early 2012.
About Stratford Capital:
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 9,200 units in twenty two 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.