About Boston Capital Corporation

Bedroom dreams

Boston Capital is the second-largest apartment owner in the United States, packaging federal tax credits into public investment funds in exchange for developing low-income housing.  However, the privately held company comes from modest origins.  Jack Manning and Herb Collins founded Boston Capital in 1974 in a spare bedroom with the dream of creating a real estate development business that would combine social and financial responsibility.

More than three decades after its founding, Boston Capital today ranks as one of the nation's leading real estate financing and investment firms, providing multifamily and commercial holdings in 49 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands and offering a range of services, including tax credit investments and equity and debt for affordable and market rate multifamily housing development.  Boston Capital Services, a National Association of Securities Dealers (NASD)-registered broker/dealer affiliate, helps raise equity through a network of roughly 500 NASD-licensed financial advisors.

Funding affordable housing

In the 1980s, Boston Capital's message was heard loud and clear.  Manning and Collins helped shape the Congress-backed Low Income Housing Tax Credit Program which began in 1986 and encouraged institutional and individual investors to invest in affordable housing while reducing their tax liability.  A year later, Boston Capital launched its publicly traded flagship, Boston Capital Tax Credit Fund, and, in 1992, introduced its first Boston Capital Corporate Tax Credit Fund.  Since the early 1990s, the two funds have combined to raise more than $5.8 billion in equity from more than 88,000 investors for the construction and rehabilitation of 2,400 properties to support affordable multifamily housing.

In 1998, Boston Capital created a mortgage fund to provide permanent financing for 27 affordable housing properties.  Five years later, the company launched a fund for the acquisition of self-storage facilities of which it currently owns nine, covering 750,000 square feet in the Northeast and Midwest.

By March 2010, Boston Capital plans to launch and close two multi-investor national funds worth $250 million to $275 million.  Moreover, Boston Capital continues to close business with its proprietary fund relationships focusing on investors seeking customized portfolios.

- Show Less + Show Full Description

Boston Capital Corporation

One Boston Place
Boston, MA 02108
Phone: (617) 624-8900
Fax: (617) 624-8999


  • Employer Type: Private
  • Stock Symbol: BXP
  • Stock Exchange: NYSE
  • President and CEO: John P. Manning