SCHEDULE TO

         Equity Resource Lexington Fund LP ("Purchaser") is offering (the
"Offer") to purchase 7,500 units ("Units") of limited partnership interests in
Boston Financial Apartment Associates LP (the "Subject Company") for a purchase
price of $25 per Unit in cash. The Offer and withdrawal rights will expire on
April 5, 2001 (the "Expiration Date").

         Offer materials will be mailed to record holders, beneficial holders,
brokers, banks and similar persons whose name appears on the list of limited
partners of the Subject Company ("Limited Partners"). You may obtain a copy of
the tender offer materials with respect to the Offer by calling Equity Resources
Group, Inc., the manager of the Offer, at (617) 876-4800. The Purchaser does not
currently intend to establish control of the Subject Company. The general
partner of the Subject Company has not approved or disapproved of the Offer.

         If more than 7,500 Units are validly tendered and not withdrawn,
Purchaser will accept up to 7,500 Units, on a pro rata basis. If Purchaser
decides to extend the Offer or to include a "subsequent offering period",
Purchaser will promptly send each Limited Partner notification of that fact. For
Units to be validly tendered pursuant to the Offer, a properly completed and
duly executed Agreement of Sale must be received by Purchaser. A cash payment
for Units will be made within 10 business days following the expiration date of
the Offer, as long the Purchaser has received a properly completed and duly
executed Agreement of Sale and assurances from the general partner of the
Subject Company that the address applicable to the holder of those Units will be
changed to Purchaser's address. Units tendered pursuant to the Offer may be
withdrawn at any time prior to the Expiration Date. In the event that the Offer
is extended beyond the Expiration Date, the Units tendered may be withdrawn at
any time up to the date that the Offer, as extended, expires. For a withdrawal
to be effective, a signed, written or facsimile transmission notice of
withdrawal must be timely received by Purchaser.

         The information required by Exchange Act Rule 14d-6(d)(1) is contained
in the Offer to Purchase with respect to the Offer and is incorporated by
reference into this summary advertisement. The complete terms and conditions of
this Offer are set forth in the Offer to Purchase and related agreement of sale,
which are being filed today with the Securities and Exchange Commission and
mailed to Limited Partners.