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WNC closes $66.3 million California affordable housing tax credit fund

The CA23 fund will support six new construction affordable housing properties totaling 650 homes, using 4% Low-Income Housing Tax Credits.

Reported · Written up by our desk · Industry

WNC & Associates, Inc. has closed WNC Institutional Tax Credit Fund X California Series 23, L.P., a $66.3 million multi investor affordable housing fund for institutional investors, according to ConnectCRE.

The CA23 portfolio includes six new construction affordable housing properties totaling 650 homes across Los Angeles, San Benito and San Diego counties, with financing intended to help four developers bring their projects to completion.

All six properties will serve families and utilize 4% Low-Income Housing Tax Credits, ConnectCRE reported.

WNC said the close marks its 23rd consecutive California focused fund, and it also reported it has sponsored 41 California focused funds and invested in 350 properties across 180 communities in the state.

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