Products > Boston Acquisition Fund
![]() |
Boston Acquisition Fund |
Program Purpose
The Boston Acquisition Fund provides low-interest loans to nonprofits, community land trusts, and socially-minded developers to acquire tenanted multi-family properties. The goal is to expand the City of Boston's ability to prevent displacement, preserve affordability, and combat private investor competition in the housing market.
The Challenge: NOAH at Risk
Proposed Solution: The Boston Acquisition Fund
Impact Goals
Financing Products
To apply for the Boston Acquisition Fund please contact Beth O'Donnell at odonnell@mhic.com.
Together, we can preserve affordable housing and protect communities from displacement.
See the Boston Acquisition Fund Q & A here.
The Boston Acquisition Fund provides low-interest loans to nonprofits, community land trusts, and socially-minded developers to acquire tenanted multi-family properties. The goal is to expand the City of Boston's ability to prevent displacement, preserve affordability, and combat private investor competition in the housing market.
The Challenge: NOAH at Risk
-
Naturally Occurring Affordable Housing (NOAH) is crucial to affordable housing in Massachusetts but is increasingly acquired by private investors, leading to:
- Displacement as properties are vacated and sold.
- Higher rents and loss of affordable units.
- Gentrification, disproportionately impacting economically diverse communities of color.
Proposed Solution: The Boston Acquisition Fund
- A revolving loan fund offering low-interest debt to support affordable housing preservation.
- Provides 100% financing for acquisitions, featuring:
- Below-market interest rates to reduce carrying costs.
- Fast and streamlined underwriting for quicker closings.
- Flexible terms to aid affordability planning.
Impact Goals
- In 3-5 years:
- 700 units preserved, stabilizing housing for over 2,000 residents.
Financing Products
- Senior Debt:
- Loan: Up to $20M | Term: up to 20 years | Low Fixed/ rates
- Collateral: First mortgage
- Subordinate Debt:
- Loan: Up to $5M | Term: 3-10 years | Low fixed rates
- Collateral: Second mortgage, repaid via cash flow or capital events.
To apply for the Boston Acquisition Fund please contact Beth O'Donnell at odonnell@mhic.com.
Together, we can preserve affordable housing and protect communities from displacement.
See the Boston Acquisition Fund Q & A here.
Examples of housing types that could become permanently affordable through this revolving loan fund:
6 Apartments
Fenway
11 SRO Units
Allston
3 Family-sized Apartments
Mattapan
6 Apartments
Fenway
11 SRO Units
Allston
3 Family-sized Apartments
Mattapan