IRVINE, Calif. — WNC, an Irvine-based investor specializing in low-income housing tax credits (LIHTC) including seniors housing, has closed WNC Institutional Tax Credit Fund 41 L.P., a $114.7 million institutional LIHTC fund.
Estimated to include 1,674 affordable housing units in total, the fund’s portfolio is comprised of 24 family and seniors housing communities scheduled for new construction and rehabilitation.
The properties will be located in 11 states: Arkansas, California, Louisiana, Minnesota, Missouri, Montana, New Mexico, Tennessee, Texas, Washington and Wisconsin.
“[The fund] is comprised of approximately equal amounts of new construction and rehabilitation projects, helping to not only deliver additional units to those in need, but to also preserve existing units in our nation’s already limited supply,” says Christine Cormier, WNC’s senior vice president of investor relations. “In addition, this fund includes approximately 93 percent repeat development partners, which speaks volumes to the success of the LIHTC program over the course of three decades.”