Boston Capital invested in the rehab of two seniors housing communities in West Virginia, which made us ask...West Virginia? Director of origination Bob Moss (above, speaking before Senate) tells us the state is a stable place to invest. (It only gets $2.5M annually in tax credits, which leads to seven or eight properties, and Boston Capital likes to get in on one or two a year--so far, its invested in 2,000 units of affordable housing there.) It didn't suffer the highs and lows of the rest of the US through the downturn, and it's seeing new economic growth from shale activity. University towns are thriving, and the FBI is building a new operational center there. Smaller seniors tax credit properties, like Boston Capital's latest deals, are doing very well.

Above, the time you learned West Virginia shares a personal mantra with Charlie Sheen. Boston Capital's latest properties include the 24-unit Lowe Gardens Apartments in Shepherdstown and the 31-unit Tucker Manor Apartments in Parsons. They'll be rehabbed with tax credit equity from the Low Income Housing Tax Credit program, and Bob tells us both were well-underwritten with healthy operations and debt coverage. Plus they have strong general partners (TM Associates and Telamon Corp). Bob says tax credit properties are the highest-performing real estate sector now: Only one-tenth of 1% failed through the recession.