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WNC Closes $124M LIHTC Fund

IRVINE, CA-The fund will include nearly 2,000 units of affordable housing spread across 20 properties in 15 states.

By Carrie Rossenfeld | Updated on December 21, 2012

IRVINE, CA-National investor in real estate and community renewal initiatives WNC has closed WNC Institutional Fund 37, a $124.5-million federal low-income housing tax credit fund. In addition, the firm has closed Hawaii Tax Credits 36-3, a Hawaii state tax credit fund, at slightly more than $4.7 million. The combined funds include a total of 10 investors, three of which are new to WNC, represented by an equal number of banks and insurance companies.

“WNC Institutional Fund 37 is a national multi-investor fund formed to acquire a diversified portfolio of federal low-income housing tax credit properties,” said Will Cooper, Jr., president and CEO of WNC, in a prepared statement. “We were able to reach many parts of the US, including Alaska and Hawaii, while exceeding our initial fundraising goal by nearly 25%.”

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