2019 Syndicator List

2019 Rankings

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Order list by:

Syndicator Rank 2019	Syndicator Rank 2018	Company Name	Portfolio Size 2019	Portfolio Size 2018	Corporate Officer	HQ City	HQ State
1	2	PNC Real Estate	136447	138275	Todd Crow	Portland	OR
Historical Data Regions of Operation Corporate Officer(s) Todd Crow Company Website www.pnc.com Other Lists
2	3	Boston Capital	115478	120925	Jack Manning	Boston	MA
Historical Data Regions of Operation Corporate Officer(s) Jack Manning Company Website www.bostoncapital.com Other Lists
3	7	Raymond James Tax Credit Funds, Inc.	113148	103598	Steve Kropf	St. Petersburg	FL
Historical Data Regions of Operation Corporate Officer(s) Steve Kropf Company Website www.rjtcf.com Other Lists
4	4	The Richman Group Affordable Housing Corporation	108627	107958	Richard Paul Richman	Greenwich	CT
Historical Data Regions of Operation Corporate Officer(s) Richard Paul Richman Company Website www.therichmangroup.com Other Lists
5	6	National Equity Fund	108459	104461	Joseph Hagan	Chicago	IL
Historical Data Regions of Operation Corporate Officer(s) Joseph Hagan Company Website www.nefinc.org Other Lists
6	5	Enterprise Community Investment	104466	104676	Charles R. Werhane	Columbia	MD
Historical Data Regions of Operation Corporate Officer(s) Charles R. Werhane Company Website www.enterprisecommunity.org Other Lists
7	1	Alden Torch Financial LLC	101297	162123	Alan Fair	Denver	CO
Historical Data Regions of Operation Corporate Officer(s) Alan Fair Company Website www.aldentorch.com Other Lists
8		Alliant Capital, Ltd.	99136	93653	Brian Goldberg	Woodland Hills	CA
Historical Data Regions of Operation Corporate Officer(s) Brian Goldberg Company Website www.thealliantcompany.com Other Lists
9	8	Boston Financial Investment Management, LP	97866	100357	Marie Reynolds	Boston	MA
Historical Data Regions of Operation Corporate Officer(s) Marie Reynolds Company Website www.bfim.com Other Lists
10	9	AIG Affordable Housing	96290	100285	Thomas Musante	Los Angeles	CA
Historical Data Regions of Operation Corporate Officer(s) Thomas Musante Company Website www.aig.com/globalrealestate Other Lists

NMHC Partners with Kingsley (a Grace Hill Company) to administer the NMHC 50 Survey. Learn more about their survey solutions, visit gracehill.com/products/kingsleysurveys/

Who is a Syndicator?

A Syndicator is a company that buys or syndicates tax credits to serve as a general partner with a minority ownership interest.

Syndicators do NOT include:

Limited partners
Syndicators of hotels, nursing homes, hospitals, and mobile homes

What counts as units?

Units that are in the United States only
Unit counts, not bed counts

View all definitions and the methodology behind NMHC 50 lists.

NMHC 10 Largest Apartment Syndicators

PNC Real Estate

Historical Data

Regions of Operation

Corporate Officer(s)

Company Website

Other Lists

Boston Capital

Historical Data

Regions of Operation

Corporate Officer(s)

Company Website

Other Lists

Raymond James Tax Credit Funds, Inc.

Historical Data

Regions of Operation

Corporate Officer(s)

Company Website

Other Lists

The Richman Group Affordable Housing Corporation

Historical Data

Regions of Operation

Corporate Officer(s)

Company Website

Other Lists

National Equity Fund

Historical Data

Regions of Operation

Corporate Officer(s)

Company Website

Other Lists

Enterprise Community Investment

Historical Data

Regions of Operation

Corporate Officer(s)

Company Website

Other Lists

Alden Torch Financial LLC

Historical Data

Regions of Operation

Corporate Officer(s)

Company Website

Other Lists

Alliant Capital, Ltd.

Historical Data

Regions of Operation

Corporate Officer(s)

Company Website

Other Lists

Boston Financial Investment Management, LP

Historical Data

Regions of Operation

Corporate Officer(s)

Company Website

Other Lists

AIG Affordable Housing

Historical Data

Regions of Operation

Corporate Officer(s)

Company Website

Other Lists