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Boston, MA, November 20, 2008 - Boston Capital invested in Amber Pointe Apartments, a tobe-
built, 56-unit multifamily development for seniors in Phoenix, AZ. Boston Capital provided
the tax credit equity for the development; Boston Capital Finance (BCF) provided a $7 million
construction loan and $1.1 million permanent loan. The general partner is Ohio-based NRP
Group LLC.

"Amber Pointe Apartments provides us with a great opportunity to serve a demand for
multifamily housing for seniors in an area experiencing strong population growth," said Jeff
Goldstein, chief operating officer and director of Real Estate at Boston Capital.

Located 3.5 miles south of downtown Phoenix, Amber Pointe Apartments will include 32 onebedroom/
one bathroom units and 24 two- bedroom/two bathroom garden-style units in a threestory
building. Units are available to seniors aged 62 or older with incomes at or below 40% and
50% of the Area Median Income (AMI).

Units will include dishwashers and washer/dryer hookups; development amenities will include a
community center, a computer room, laundry facilities and an intercom entry system. Senior
services, including emergency services, transportation and elder outreach and senior wellness
programs, will be provided by Area Agency on Aging, Region One, Inc.

"In addition to our equity investment, we are providing our partners at NRP Group with
favorable debt financing through our in-house mortgage fund. This is another great example of
how our equity and debt groups work together to provide outstanding service to our developer
partners," added Goldstein.

About Boston Capital Finance:

Boston Capital Finance manages the Boston Capital Affordable Housing Mortgage Fund which
originates construction, permanent and construction/permanent loans between $750,000 and
$10,000,000. The mortgage fund targets LIHTC (Section 42) properties in which Boston Capital
is the equity investor.

About Boston Capital:

Boston Capital, headquartered in Boston, MA, is a real estate investment and advisory firm
specializing in tax advantaged investments for multifamily housing and equity investment in
market rate apartment communities. Boston Capital’s holdings include more than 2,800
multifamily apartment properties in 48 states and the District of Columbia, constituting more
than 169,500 apartments with a development cost in excess of $11.8 billion. Boston Capital is
the third largest owner/investor of apartment properties in the US and the 11th largest owner of
real estate in general.

For more information contact:

Bill Fazzano
Vice President
Mortgage Finance
Boston Capital Finance
One Boston Place
Boston, MA 02108-4406
(617) 624-8711


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