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Irvine-based WNC has closed a record-setting capital raise for its latest LITCH fund. WNC Institutional Tax Credit Fund 50 LP secured $176 million in equity commitments from 9 investors. The capital will support the development of 2,160 affordable housing units in 16 states. The record capital raise illustrates momentum in the LIHTC space and strong investor demand.

“The demand for affordable housing tax credit investing continues to be strong, evidenced by WNC’s record-setting capital raise in the past two closed funds,” Christine Cormier, WNC’s EVP of investor relations, tells GlobeSt.com. “Although the economy was challenged in 2020, our investors understood that the need for affordable housing was stronger than ever. While a couple of investors continue to take a pause, most are back to investing.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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