IRVINE, CA—WNC has closed WNCInstitutional Tax Credit Fund X California Series 12 LP, a$48.5-million institutional low-income housingtax-credit fund. The fund includes 11 investors and will acquirenine properties in four California counties.
The portfolio for WNC Cal 12 is composed of sevenmultifamily and twosenior-housing properties. The 714 units ofaffordable housing are located in Los Angeles, SanDiego, San Bernardino and Kern counties. GlobeSt.com has learnedthat the properties are: Arbor Terrace in Colton;Campina Court in La Mesa; Cunningham andJefferson, Juanita Tate Legacy Towers and RobertaStephens Villas in Los Angeles; RegencyCourt in Monrovia; Sonoma Court inEscondido; Valley View in Delano; andWillow Wood and Denny Place inNorth Hollywood.
WNC Cal 12 is the company's second Californiafund to close in the past 12 months, representing an equity raiseof $94.5 million in the last year. The firm has a long tradition ofraising equity for affordable housing in California and has closeda total of 28 funds that have acquired 185 properties in 45counties. According to the firm, WNC is the only syndicator thathas successfully offered and closed a California fund in each ofthe last 12 years.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
