Peabody, Massachusetts, January 7, 2011: Stratford Capital Group, LLC (“Stratford Capital”) is pleased to announce the conclusion of a successful 2010 in raising over $125 million in equity for 21 affordable housing projects representing 2,879 apartment units available for rent to Low-Income Housing Tax Credit (“LIHTC”) qualified tenants in Arkansas, Connecticut, Florida, Georgia, Iowa, Kentucky, Louisiana, Maryland, Michigan, Minnesota and Wisconsin. These affordable housing acquisitions included projects financed, in part, with both 4% and 9% LIHTC.
“Our success during 2010 was due, in large part, to the strong relationships and high level of trust that we have cultivated with both low-income housing tax credit developers and investors over the past decade, along with our proven ability to execute transactions” said Ben Mottola, Stratford’s President and Chief Operating Officer. Mr. Mottola added, “we have an outstanding roster of both investors and developers and are greatly looking forward to a successful 2011.”
Stratford Capital is a five year old Boston, Massachusetts based real estate investment, development and asset management 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 approximately 8,000 rental apartment units in nineteen states and the District of Columbia.
The integrity of the SCG team is very high. Everything they said they would do – they did, and then some. We appreciate their strong capability and specific knowledge of the real estate investment world. The numerous investments we’ve made with them have been a partnering relationship. I wouldn’t hesitate to do another deal with them.