WNC Closes $75M Fund to Purchase Nine Communities in California

by Jeff Shaw

IRVINE, Calif. — Real estate investment company WNC has closed WNC Institutional Tax Credit Fund X California Series 13 LP, a $75 million institutional low-income housing tax credit (LIHTC) fund. The fund, which includes seven investors, will acquire nine properties in California.

Comprised of family and seniors housing properties, the fund includes 978 units of affordable housing in both suburban and urban parts of the state, including Casa de Seniors in San Clemente, a 72-unit seniors housing rehabilitation project.

This is the company’s second largest equity raise thus far. WNC, which is based in Irvine, has closed a total of 18 California funds that have acquired more than 250 properties in 46 counties.

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