WNC, a leading provider of investment, asset management, and development services in the affordable housing industry based in Irvine, has successfully closed two institutional low-income housing tax credit (LIHTC) funds with a total equity raise of approximately $350 million. This brings WNC’s total equity raised since its inception to an impressive $17.2 billion.
According to Christine Cormier, Executive Vice President of Investor Relations at WNC: “Despite the challenging economic climate, we remain committed to our mission of providing safe and high-quality affordable housing options for those in need across the United States. The successful closure of these two funds is a testament to our investors’ confidence in us and our mission.”
The equity from these funds will be utilized towards constructing and rehabilitating over 2,100 affordable housing units across 29 properties located throughout Alabama,
Alaska,
Arizona,
California,
Connecticut,
Iowa
Maine
Massachusetts
Montana
North Carolina
Nebraska
New Hampshire
Texas
and West Virginia.
