WNC Closes $113 Million California Institutional LIHTC Fund

  

Michael Gaber

IRVINE, CA, May 9, 2016 – WNC, a national investor in real estate and community development initiatives, announced today it has closed WNC Institutional Tax Credit Fund 10 California Series 14, L.P. (CA 14), a $113 million institutional low-income housing tax credit (LIHTC) fund.

The fund will acquire nine properties in both suburban and urban parts of California, within the counties of Alameda, Contra Costa, Los Angeles, Placer, Riverside, San Diego and Santa Clara. Combined, the properties will offer 1,305 affordable housing units to individuals and families.

CA 14 is WNC’s 19th fund closed in the Golden State. Upon completion of all nine property acquisitions, WNC will have acquired more than 260 properties within California.

“WNC has successfully offered and closed a California LIHTC fund for 14 consecutive years, which speaks volumes about our organization’s commitment to providing affordable housing to individuals, families and communities in need,” said WNC Executive Vice President and Chief Operating Officer Michael Gaber. 

“We are very pleased to have continuous support from our existing investors and development partners, as well as added support from new investors as we endeavor to increase the inventory of affordable housing nationwide.”

CA Fund 14 includes 10 institutional investors, nine of which have previously participated in WNC funds. Additionally, 85 percent of the developers are repeat partners.

For a complete copy of the company’s news release, please contact:

Julie Leber

Spotlight Marketing Communications

949.427.5172, ext. 703 – direct

julie@spotlightmarcom.com