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December 10, 2007 – Boston Capital acquired Sherwood Apartments, an 80-unit, garden-style
multifamily development in Montgomery, AL. The general partner is Summit America
Properties, Inc., which is an affiliate of Summit Asset Management, L.L.C., an owner, developer
and manager of multifamily housing headquartered in Montgomery, Alabama.

"Sherwood Apartments adds another outstanding property to the Boston Capital portfolio," said
Jeff Goldstein, chief operating officer and director of Real Estate at Boston Capital. "By teaming
with quality developers like Summit Asset Management, we expand on our commitment to
provide the best in affordable housing to families and communities throughout the country."

Located on a 7.31 acre site, Sherwood Apartments includes fourteen one and two-story
buildings containing 28 two-bedroom, 40 three-bedroom and 12 four-bedroom units, available
to individuals or families at 60 percent or less of the area median income (AMI). Renovations
will include the remodeling of the existing leasing office, a new playground/tot lot and overall
modernization of the interiors of each unit. The apartment community offers excellent access
to the interstate, retail facilities and employment centers.

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
September 2007, Boston Capital’s holdings included approximately 2,800 multifamily
apartment properties in 48 states and the District of Columbia, constituting more than 164,000
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:

Allison E. Marino
Corporate Communications
Boston Capital
One Boston Place
Boston, MA 02108-4406
(617) 624-8678