WNC Closes on 23rd California-Focused Affordable Housing Fund

WNC & Associates, Inc. has closed on WNC Institutional Tax Credit Fund X California Series 23, L.P. The $66.3-million fund is the company’s 23rd consecutive California-focused multi-investor affordable housing fund for institutional investors.

CA23 includes six new-construction affordable housing properties totaling 650 homes across Los Angeles, San Benito and San Diego counties, Financing from the fund will help four developers bring their projects to completion. All six properties will serve families and utilize 4% Low-Income Housing Tax Credits.

“Closing CA23 is an important milestone for WNC as we celebrate our 55th year of operations” said Will Cooper Jr., president and CEO of WNC. “We are proud of our California roots and the role our home state has played in WNC’s growth into a national affordable housing organization.” The Irvine-based company has sponsored 41 California-focused funds and invested in 350 properties across 180 communities in the state, in addition to its national footprint.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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