IRVINE, CA—Locally based WNC, a nationalinvestor in real estate and community-development initiatives, hasclosed WNC Institutional Tax Credit Fund 39 LP, a$125-million institutional low-income housing tax-credit fund. Thefund includes six investors and will acquire 25affordable-housing properties located throughoutthe country.

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

According to Michael Graber, EVP and COO ofWNC, “We are pleased to complete this offering that will deliveradditional low-income housing options and preserveexisting affordable housing in communities where the demand forsuch housing continues to outpace supply. For nearly 30 years, theLIHTC program has been among the most successful examples ofpublic/private partnership in our nation'shistory, and we appreciate the ongoing support of our existinginvestors and development partners, along with the added commitmentfrom new investors, as we work to increase the inventory ofaffordable housing nationwide.”