WNC Closes Its Largest Institutional LIHTC Fund to Date
WNC, based in Irvine, CA, announced today it has closed WNC Institutional Tax Credit Fund 50 LP (WNC Fund 50). The fund raised $176 million in institutional low-income housing tax credit (LIHTC) equity.
A total of nine investors participated in WNC Fund 50, which will develop and renovate more than 2,160 units for families and seniors at 32 properties in California, Colorado, Georgia, Iowa, Indiana, Louisiana, Mississippi, Montana, North Carolina, North Dakota, Nebraska, New Mexico, Oklahoma, Tennessee, Texas and Wyoming.
“As we near our official 50th anniversary next month, we’re pleased to announce the closing of this fund – our largest institutional LIHTC fund to-date – which raised additional equity to further our core mission,” said Christine Cormeir, WNC EVP of investor relations.
The completion of WNC Fund 50 brings WNC’s total equity raise since inception to approximately $5.9 billion, which has helped develop and renovate more than 96,000 affordable housing units.
Pictured: Perennial Park in Bozeman, MT, a 55+ development being financed through WNC Fund 50.
- ◦Development