Peabody, Massachusetts, December 3, 2013: (“Stratford Capital”) is pleased to announce the closing of Stratford Fund XI Limited Partnership (“Fund XI”), a $76 million Low-Income Housing Tax Credit fund which is comprised of 15 affordable rental apartment properties located in 9 states.
Fund XI includes 5 institutional investors and, upon completion of the 15 properties, will provide over 1,500 affordable apartment units for rental to families and seniors across the nation. In addition, as the result of Fund XI’s investment, over 1,800 temporary and over 450 permanent jobs will be created.
“The closing of Fund XI is a testament to Stratford Capital’s ongoing commitment to the creation of affordable housing across the nation,” said Ben Mottola, President of Stratford Capital Group. “None of this could be accomplished without the ongoing trust and confidence of our investor and development partners, as well as the continued hard work and dedication of our team members.”
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 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 12,500 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.