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California  + Apartments  | 

WNC Closes $210M for Development, Renovation of 1,900 Affordable Housing Units

Irvine, CA-based WNC closed two institutional low-income housing tax credit (LIHTC) funds, WNC Institutional Tax Credit Fund 47, L.P. and WNC Institutional Tax Credit Fund 10 California Series 17, L.P., totaling roughly $210 million in equity. Together, equity from the funds will be used to develop and renovate more than 1,900 affordable housing units in the U.S.

WNC’s Christine Cormier says, “Given the lack of affordable housing throughout the country, it is essential that we not only add to, but preserve and improve the existing stock, which WNC Corp. 47 and CA 17 will accomplish in 25 communities across 12 states.”

WNC Corp. 47 raised $134.6 million in equity, and CA 17 raised $75.5 million. The properties that will be funded are located in Arkansas, California, Colorado, Connecticut, Louisiana, Massachusetts, Michigan, Minnesota, Mississippi, Montana, Virginia and Wyoming. They include multifamily and senior housing in urban, suburban and rural areas.

*Pictured 38-unit property in Bloomfield, CT

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.

  • ◦Development
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