WNC & Associates closes tax credit fund with $302m in equity
Fundraising - MAY 13, 2024

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WNC & Associates closes tax credit fund with $302m in equity

by Lewis Dayton

WNC & Associates, a family-owned business known as a pioneer and leader in the affordable housing industry, has closed its WNC Institutional Tax Credit Fund 56 (Fund 56), which includes 24 multifamily properties across 16 states.

Fund 56 closed in April 2024 with $302 million in equity as WNC’s largest multi-investor fund to date.

The fund is investing in partnerships or limited liability companies that own apartment complexes built or rehabilitated for low-income residents, including populations with specific needs such as seniors, visually and hearing impaired, physically disabled, formerly homeless, special needs and single parents.

The fund enables federal low-income housing tax credits (LIHTC), and in some cases California state low-income tax credits, to be passed through to investors, who can then apply them to reduce federal or California tax liabilities as appropriate.

“The closing of Fund 56, our biggest fund to date, is a testament to t

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