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Residents will benefit from installation of passive hot water solar system

August 25, 2010 - Boston Capital invested in The Mirabella Apartments, a to-be-built, 172-unit development for seniors in San Antonio, TX. The developer, builder and property manager is NRP Group LLC.

"We are pleased to once again partner with NRP Group in this investment which represents a high-quality rental opportunity for seniors in the San Antonio housing market," said Jeff Goldstein, chief operating officer and director of Real Estate at Boston Capital. "The development's emphasis on energy efficiency will provide long-term environmental benefits while reducing energy costs for seniors with low incomes."

Located on an 8.7-acre site, The Mirabella Apartments will include 112 one-bedroom units and 60 two-bedroom units in four, three and four-story buildings. The buildings will include elevators and offer both gated and controlled access. All units will feature eight-foot ceilings, washer/dryer hook-ups and patios or balconies. Amenities will include an outdoor pool, community room, business center and exercise room. Units will be available to seniors, ages 55 or older, at 60 percent or less of the Area Median Income (AMI).

The Mirabella Apartments will benefit from the installation of a passive hot water solar system which will preheat the water used for the domestic hot water and forced hot air heating, reducing energy costs for residents.

About Boston Capital:

Boston Capital, headquartered in Boston, MA, is a real estate investment and advisory firm specializing in tax advantaged investments in affordable multifamily housing and equity investment in market rate apartment communities. Boston Capital's holdings include more than 2,575 multifamily apartment properties in 49 states and the District of Columbia, constituting more than 162,677 apartments with a development cost in excess of $12 billion. Boston Capital is the largest owner/investor of apartment properties in the US.

For more information contact:

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