Peabody, Massachusetts, January 13, 2017: (“Stratford Capital”) is pleased to announce the closing of Stratford Fund 21 Limited Partnership (“Fund 21”), a $125 million Low-Income Housing Tax Credit fund comprised of 8 institutional investors and co-investment by Stratford Capital.
Fund 21 includes fifteen affordable housing properties, totaling 1,821 apartment units, within twelve family and three senior communities located in nine states including: Arkansas, Georgia, Louisiana, Michigan, Missouri, Pennsylvania, Texas, Tennessee and Virginia.
“We’re extremely grateful for the high level of confidence and commitment exhibited by our investors during the closing of Fund 21. During these turbulent market conditions, the strength of our relationships and the ongoing loyalty of our investors, developer clients and team members remain our most valuable assets” said Ben Mottola, President of Stratford Capital Group.
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 20,000 apartment units located in thirty-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.