First Stage in Sale of MMA LIHTC Business Closes

By Caitlin Jones
October 22, 2009 1 min read

Tax Credit Advisor, September 2009: JEN Partners, LLC, a New York-based private equity real estate firm, has announced completion of the first closing in the $31 million acquisition of substantially all of the low-income housing tax credit equity business of MMA Financial. The company has been renamed Boston Financial Investment Management, LP.

The sale has been structured to occur in two closings. The first, which involved a cash payment of $14 million, occurred on 7/3/0/09 and included general partnership interests in 29 tax credit equity funds, limited partnership interests in several funds, and the operating assets of the business, inclusive of substantially all of the employees. The second closing will occur within 60 days.

(For background, see Tax Credit Advisor, August 2009, p. 2.)

Breaking Ground

Jennifer Leimaile Ho, Minnesota Housing Commissioner and Incoming Chair of National Council of State Housing Agencies

Pamela Martineau • December 1, 2024 10 min read

Earlier this fall, Jennifer Leimaile Ho was elected chair of the National Council of State Housing Agencies’ (NCSHA) 2025 Board of Directors. Ho is the Commissioner of Minnesota Housing, having been appointed by Governor Tim Walz in January 2019 and reappointed in 2023.

“Business as Usual”

Leaders in Equity Express Optimism Despite an Uncertain Future

Abram Mamet • December 1, 2024 9 min read

Any outside observer may assume some unease amongst the low-income housing industry. Buffeted on the one hand by residual stressors from the COVID-19 pandemic and on the other by the uncertain prospects of an incoming federal administration keen on cutting spending and shrinking government programs, the affordable housing landscape is experiencing an inflection point.

NCSHA Recognizes Stand-Out Affordable Housing Programs and Initiatives

Pamela Martineau • December 1, 2024 7 min read

This fall, the National Council of State Housing Agencies (NCSHA) recognized 17 programs offered by state housing finance agencies across the nation that creatively developed tools to tackle their communities’ affordable housing challenges.