715 Tremont Street, Boston, MA LP Solutions Fund
These buildings contain 181 units of low-income housing in the South End of Boston. For years, the project’s expenses had exceeded its revenue.
When LIHC Investment Group became involved in the project, there was one limited partner who owned a majority of the partnership and wanted a market-value sale. This was difficult because of the deficit position and long-term restrictions. LIHC advanced capital to cover the deficits, stabilizing the property and paving the way for attractive sales proceeds and a positive return that the limited partner had not experienced in years.
715 Tremont Street, Boston, MA
LP Solutions Fund