WNC Closes $125M Fund to Acquire Affordable Housing

IRVINE, CA—Locally based WNC, a national investor in real estate and community-development initiatives, has closed WNC Institutional Tax Credit Fund 39 LP, a $125-million institutional low-income housing tax-credit fund. The fund includes six investors and will acquire 25 affordable-housing properties located throughout the country.

WNC Corp. 39 is the second WNC-sponsored LIHTC fund to close this year, representing a total equity raise of $185 million. As GlobeSt.com reported in June, the firm closed WNC Institutional Tax Credit Fund X California Series 12 LP, a $48.5-million institutional low-income housing tax-credit fund. The fund included 11 investors and was set to acquire nine properties in four California counties. With the close of WNC Corp. 39, WNC welcomes two new investors to its LIHTC portfolio.