WNC closes $150M fund for affordable housing
WNC, an affordable housing development, investment, and management company, just closed a $150 million fund for affordable housing. The fund enjoys backing from five repeat investors and was able to garner one new investor to add to its war chest. The WNC Institutional Tax Credit Fund 45 is a $150 million institutional low-income housing tax credit fund that will be used to develop and renovate more than 1,950 affordable housing units in the U.S., a welcome breath of fresh air in a market hungry for affordable product.