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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 institutional and individual investors to invest 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 $5.8 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 2,850 properties, constituting nearly 171,260 units of affordable housing. This real estate portfolio has a development cost in excess of $12 billion.

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 13,400 units of market rate multifamily housing in 13 states. As of January 2008, the total asset value of properties acquired for the market rate portfolio is in excess of $1.4 billion. BCRE is currently active in the acquisition of apartment properties throughout the U.S.

Boston Capital Finance (BCF) manages the Boston Capital Affordable Housing Mortgage Fund LLC, which invests in fixed-rate, first-priority mortgages collateralized by LIHTC multifamily housing complexes. The Fund, with its $250 million offering, targets new construction or substantially rehabilitated LIHTC (Section 42) properties in which Boston Capital is the equity investor. The Boston Capital Affordable Housing Mortgage Fund LLC gives Boston Capital's developer partners access to a single, on-time closing for both debt and equity financing.

Thirty-five 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, equity for market rate multifamily housing development, and equity and debt for affordable multifamily housing development.