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California  + Orange County  + Apartments  | 

WNC Closes $153M Institutional Tax Credit Fund

Irvine, CA-based WNC closed WNC Institutional Tax Credit Fund 49 LP (WNC Fund 49). The fund raised $153 million in institutional low-income housing tax credit (LIHTC) equity that will be used to develop and renovate more than 1,600 affordable housing units in 13 states.

A total of nine investors participated in WNC Fund 49, which will develop and renovate units for families and seniors at 21 properties in Alaska, Arkansas, California, Louisiana, Massachusetts, Michigan, Maine, North Dakota, Nevada, Texas, Washington, Wisconsin and Wyoming.

Among the projects within the fund is a 20-unit family housing development that will be located in Owyhee, NV, on the Duck Valley Shoshone-Paiute Indian Reservation. Additionally, a 56-unit housing development will be constructed in Grand Rapids, MN, with four units set aside for those who were formerly homeless. A 105-unit family community will also be constructed in Coachella, CA, with 10 units set aside for those who are developmentally disabled.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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