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.
Pictured: Maison’s Village II under construction in Palmdale.
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