Boston Capital has built a reputation over the past 34 years of striving to offer its investors real estate investment vehicles that will maximize their investments and provide above market returns. Our success over this time frame is the result of shrewd investment decisions and years of experience in judging market conditions. There is no better example of Boston Capital’s expertise and ability then the recent disposition of the Boston Capital Real Estate Investment Trust (Boston Capital REIT).

The Boston Capital REIT was formed in 2005 for the purpose of investing in market rate multifamily properties throughout the United States. The initial share price per share was $10 and the REIT acquired 11 apartment properties consisting of 3,098 apartment units. Due to the outstanding performance of the properties in the REIT portfolio, in the fall of 2007, an offer was tendered by a private equity fund manager to purchase the Boston Capital REIT at a 33% premium, or $13.30 per share. Over 66% of shares outstanding voted on the sale of the REIT with an overwhelming 97% of voting shares in favor of the transaction. This disposition, when factoring in the 6% dividend collected by shareholders, resulted in a total Internal Rate of Return of 40% for average shareholders of the Boston Capital REIT.

While Boston Capital cannot assume a 40% return on all its investment funds, we are quite proud of the positive results achieved by the REIT for our shareholders.

About Boston Capital Real Estate Investment Trust

Boston Capital Real Estate Investment Trust, Inc. was a Maryland corporation that operated as a real estate investment trust for federal income tax purposes. Through its subsidiaries and joint ventures, Boston Capital REIT owned interests in a portfolio of 11 apartment properties which consisted of 3,098 units and comprised approximately 2,713,000 square feet located in Washington, Oregon, Utah, Florida and Texas.

For more information contact:

David Gasson
Vice President
Corporate Communications
Boston Capital
One Boston Place
Boston, MA 02108-4406
(617) 624-8896