IRVINE, CA-WNC, a national investor in real estate and community development initiatives, has closed WNC Institutional Tax Credit Fund X, California Series 11 L.P., a $46 million institutional low-income housing tax credit (LIHTC) fund.
WNC Institutional Tax Credit Fund X, California Series 11, includes nearly 800 units of affordable housing spread across 10 properties and five counties in California. The properties include senior and family housing, with a combination of new construction and rehabilitation developments.
This is the company's 11th institutional fund focused solely on California since 2001, and will fund the development of two new affordable housing projects and the rehabilitation of eight existing communities. Since its founding, WNC-sponsored funds have invested in nearly 250 properties totaling more than 14,000 units in California, with its national portfolio now approaching 1,200 properties.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
