Peabody, Massachusetts, January 14, 2015: (“Stratford Capital”) is pleased to announce the closing of Stratford Fund XV Limited Partnership (“Fund XV”), a $100 million Low-Income Housing Tax Credit fund which is comprised of 18 affordable rental apartment properties located in 13 states.
Fund XV includes 8 institutional investors and, upon completion of the development of the 18 properties, will provide over 2,000 affordable apartment units for rental to families and seniors across the nation. In addition, Fund XV’s investment is anticipated to create over 2,440 temporary and over 640 permanent jobs.
“With the closing of Fund XV, Stratford Capital and its investors continue to show their strong support for the creation of affordable rental housing nationwide,” said Ben Mottola, President of Stratford Capital Group. “this closing speaks loudly to the continued confidence of our investor and developer partners, we are also extremely grateful for the continued hard work 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, 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 15,000 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.