CPN 2008 GreenBook

Giants Boston Capital Corp. B oston Capital Corp. offers real estate investment and advisory services, specializing in multi-family real estate and tax-advantaged investments. The company, one of the nation’s largest apartment ownerinvestors, has a portfolio that includes more than 2,800 multi-family properties in 48 states and Washington, D.C. Since its 2002 formation, market-rate investment arm Boston Capital Real Estate Partners L.L.C. has invested through joint ventures with development and equity partners to acquire and develop 13,370 units in 13 states. Boston Capital Real Estate’s portfolio is worth JEFF GOLDSTEIN more than $1.4 billion. Director of Real Estate, Boston Capital Finance manages Executive Vice President & COO Boston Capital Affordable Housing Boston Capital Corp. Mortgage Fund L.L.C., which invests in fixed-rate, first-priority mortgages collateralized by low-income-housing tax-credit complexes. The fund’s $250 million offering targets new-construction or substantially rehabilitated low-income-housing tax-credit properties in which Boston Capital is the equity investor. In April 2008, Boston Capital Corp. invested in the rehabilitation of 586 apartment units in seven mid- and high-rise build- ings scattered across Seattle, completing the third and final phase of the Seattle Housing Authority’s massive homeWorks rehab project. The company revealed in July that it closed the $150 million Boston Capital Tax Credit Fund XXX, encompassing 27 affordable apartment properties, including three seniors housing developments, in 15 states. The acquired properties will add 3,281 apartment units to the company’s holdings, pushing the tally to more than 160,000 apartments. Boston Capital has worked to build supportive, sustained relationships with its developer partners for more than 34 years. Over three-quarters of its current housing investments have been made with repeat MARK DUNNE developer partners. Managing Director In January, the firm invested in Boston Capital Real Estate Partners L.L.C. Toms River Crescent Apartments, a 120-unit development planned for Toms River, N.J. The 15building community exceeds Energy Star standards, promising to save residents as much as 30 percent in energy costs, and the common building employs a solar-photovoltaic system. In addition, six of the tax-credit fund developments in Virginia are EarthCraft certified. Centerline Capital Group C enterline Capital Group, an alternative asset manager that focuses on real estate funds and financing, manages more than $12 billion worth of assets. Headquartered in New York City, it operates nine offices in the United States. In January 2008, Centerline and Freddie Mac completed the securitization of Centerline’s $2.8 billion tax-exempt affordable housing bond portfolio. Freddie Mac provided $2.8 billion in financing for lowincome multi-family properties MARC SCHNITZER President & CEO located in underserved areas. The Centerline Capital Group company expects this refinancing to accelerate its evolution to an alternative asset management company. During the summer of 2007, it became the first to achieve Freddie Mac’s Delegated Underwriting for Targeted Affordable Housing lender designation. Centerline now originates loans and underwrites them on behalf of Freddie Mac. In February 2008, its affordable housing group closed on the final segment of Centerline Credit Enhanced Partnership L.P.-Series K, Number 1, a $140 million low-incomehousing tax-credit investment fund that will provide equity financing to develop 17 affordable multi-family properties. Centerline recently restructured its commercial real estate group into two divisions: William Hyman leads the agency products segment, and Mark Brown runs the CMBS and commercial products arm, which includes equity funds. Centerline’s portfolio management LEONARD COTTON group, led by senior managing Vice Chairman director Paul Smyth, who was past Centerline Capital Group president of predecessor ARCap, supports both divisions. Larry Duggins, former executive managing director for Centerline’s commercial real estate group, retired on June 30, 2008. 10 Commercial Property News The 2008 Multi-Family Greenbook

Table of Contents Feed for the Digital Edition of CPN 2008 GreenBook

CPN 2008 Greenbook Table of Contents Industry Update Green Update Giants Owners, Managers & Developers REITs Finance Firms Seniors Housing Providers Service Firms Software Providers Activity Index Alphabetical Master Listings

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