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The Dallas-based international financial firm makes the tax company buy the loan

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An international financial services firm headquartered in Dallas, USA is buying one of the largest portfolios of low-income housing tax credit funds.

Toyko-based Orix Corp said it has entered into a purchase agreement with Boston Capital in a deal with a reported value of $ 150 million.

The Orixs subsidiary of Boston Management Investment Financial will almost double its tax credit fund, which will have a value of nearly $ 15 billion after the acquisition.

The Orix subsidiary currently manages a $ 7.7 billion low-income tax loan portfolio, including more than 1,125 properties and 98,110 housing units.

The low-income loan program was created by Congress in the 1980s to support the construction of affordable housing by builders.

Syndicates like Boston Capital raise funds by selling 10-year tax credits issued by federal and state governments.

Founded in 1981, Japan-based Orix Corp. has expanded its US real estate financing operations.

Last November, Orix said it was buying New York-based Hunt Real Estate Capital, a major real estate finance lender.

Orixs’ US subsidiary, Orix USA, is located in downtown Dallas and is relocating its headquarters to the Trammell Crow Center on Ross Avenue.

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