WNC announced it has closed a $125 million low-income housing tax credit (LIHTC) fund.
The LIHTC syndicator’s latest fund, which involves six investors, will acquire 15 family, nine seniors, and one senior/family mix property. Together, the developments will provide 1,684 affordable housing units in 12 states—Alaska, Arkansas, California, Illinois, Kansas, Minnesota, Mississippi, New Jersey, Oklahoma, South Dakota, Texas, and Washington.
The 25 properties will consist of a combination of new construction and substantially rehabilitated units. The rehab projects will continue WNC’s efforts to preserve and maintain the nation’s low-income housing supply.
WNC Institutional Tax Credit Fund 39 is the second WNC-sponsored LIHTC fund to close this year, representing a total equity raise of $185 million.
WNC is a national investor in real estate and community development initiatives. It has acquired more than $6.3 billion of assets totaling in excess of 1,200 properties in 45 states, Washington D.C., and the Virgin Islands.