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In 1974, co-founders Jack Manning and Herb Collins (retired in 2001) created a real estate investment company in a spare bedroom. Guided by integrity, and combining social and financial responsibility, they lent their expertise in the field of multifamily housing to help shape public policy, leading to the development of the Low Income Housing Tax Credit (LIHTC) program enacted by Congress in 1986. The LIHTC program encourages private sector investment in much-needed affordable housing while at the same time reducing their tax liability. Through this program, Boston Capital developed a framework for what would become one of the leading real estate finance companies in the country.

In 1987, Boston Capital launched its publicly-registered flagship Boston Capital Tax Credit Fund. The first Boston Capital Corporate Tax Credit Fund was introduced in 1992. Since 1987, Boston Capital Tax Credit Funds have invested in excess of $7.3 billion in equity, from over 88,000 investors including publicly traded New York Stock Exchange corporations, utility companies, banks, individuals and other large corporations seeking the tax planning benefits of tax credit investments.

These innovative investment vehicles have resulted in the construction and/or rehabilitation of more than 3,000 properties, constituting nearly 187,000 units of affordable housing. This real estate portfolio has a development cost in excess of $13.4 billion. Boston Capital is the largest owner/investor of apartment properties in the U.S.

Since the creation of the market rate group in 2002, Boston Capital Real Estate Partners (BCRE), LLC has invested in the acquisition and development of approximately 13,000 units of market rate multifamily housing in 13 states. In January of 2008, BCRE sold its entire portfolio of stabilized assets to take advantage of highly favorable market conditions. As of December 2011, the total asset value of current properties in the market rate portfolio is approaching $1 billion. BCRE is currently active in the acquisition and joint venture development of apartment properties throughout the U.S.

Boston Capital Finance (BCF) provides both construction and permanent mortgage financing on LIHTC properties syndicated by Boston Capital. The Boston Capital Affordable Housing Mortgage Fund LLC is fully invested with $115 million in loans currently outstanding. In June 2011, BCF launched the Boston Capital Intermediate Term Income Fund (BCITIF) and the Boston Capital Long Term Mortgage Fund (BCLTMF). BCITIF is a construction-only fund, issuing fixed-rate and first priority mortgages. BCLTMF will issue 24-month fixed-rate, forward loan commitments for 15-year permanent mortgages. BCF will originate, underwrite and manage both Funds. BCF also offers 5-year, 7-year and 10-year fixed rate loans on LIHTC properties nearing the end of the 15-year compliance period.

Thirty-eight years after its founding, Boston Capital is acknowledged as one of the nation's leading real estate financing and investment firms, with multifamily housing and commercial holdings in 49 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. It offers a comprehensive range of services including tax credit investments in affordable multifamily housing, energy, film and economic development, equity for market rate multifamily housing development, and equity and debt for affordable multifamily housing development. It also specializes in third-party asset management for investors and state HFAs through Boston Capital Asset Management (BCAM).