• Executive Team
• Career Opportunities
• Press Releases
• Archives
• Industry Advocacy
• Contact Us

July 17, 2007 - Boston Capital has acquired Ephesus Homes, a 45-unit single family
development in Detroit, MI. Boston Capital partnered with The NRP Group, headquartered in
Cleveland, OH, in the acquisition of Ephesus Homes. This deal represents Boston Capital's 30th
investment in Michigan over the past five years.

"Boston Capital is extremely pleased to once again partner with The NRP Group in the
acquisition of Ephesus Homes, offering much-needed affordable housing to the residents of
Detroit," said Jack Manning, president and CEO of Boston Capital. “For over 30 years, we have
dedicated ourselves to the creation and preservation of affordable multifamily housing
throughout the country. We look forward to increasing our commitment to families with
moderate incomes in Michigan and throughout the country."

Located on four adjacent streets five miles northeast of downtown Detroit, the development will
include 45 single-family homes with basements, garages, central air conditioning and
washer/dryer hook-ups. Nineteen 1,250 square-foot homes will feature three bedrooms with 1.5
baths and twenty-six 1,450 square-foot homes will have four bedrooms with two baths, available
to residents between 30 and 60 percent of the area median income (AMI).

About Boston Capital:

Boston Capital, headquartered in Boston, MA, is a real estate investment and advisory firm
specializing in real estate and tax advantaged investments for multifamily housing, equity
investment in market rate apartment communities and renewable energy developments. As of
January 2007, Boston Capital’s holdings included over 2,700 multifamily apartment properties
in 48 states and the District of Columbia, constituting nearly 158,000 apartments with a
development cost in excess of $11.5 billion. Boston Capital is the fourth largest owner/investor
of apartment properties in the country and the 11th largest owner of real estate property in
general.

For more information contact:

David Gasson
Vice President
Director of Corporate Communications
Boston Capital
One Boston Place
Boston, MA 02108-4406
(617) 624-8896