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California  + Orange County  + Finance  | 

WNC Closes LIHTC Funds at $350M 

WNC, an Irvine-based provider of investment, asset management and development services in the affordable housing industry, closed two institutional low-income housing tax credit (LIHTC) funds totaling approximately $350 million in equity. The closure of the funds brings WNC’s total equity raise since inception to approximately $17.2 billion. 

“WNC remains focused on our mission to provide safe, high-quality and affordable housing options to residents in need across the United States, and the completion of two funds totaling $350 million in this economic environment speaks volumes about our investors’ belief in us and our mission,” said WNC EVP of investor relations Christine Cormier.  

Equity from the funds will be used to construct and rehabilitate more than 2,100 affordable housing units across 29 properties in Alabama, Alaska, Arizona, California, Connecticut, Iowa, Maine, Massachusetts, Montana, North Carolina, Nebraska, New Hampshire, Texas and West Virginia. 

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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).

  • ◦Development
  • ◦Financing
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