WNC closes $124.5 million low-income housing tax credit fund

WNC, a national investor in community renewal and affordable housing projects, has held a $124.5 million final close for its WNC Institutional Tax Credit Fund 37, a low-income housing tax credit fund (LIHTC). The fund will be invested in 20 affordable housing projects across the United States. In addition,  WNC raised approximately $4.7 million for Hawaii state tax credit fund, which will be used for a senior housing project in Honolulu. The combined funds have more than 10 investors, three of which are new investors with WNC. They include banks and insurance companies.

“WNC Institutional Tax Credit Fund 37 is a national multi-investor fund formed to acquire a diversified portfolio of federal low-income housing tax credit properties,” said Will Cooper Jr., president and CEO of WNC, in a statement. “We were able to reach many parts of the U.S., including Alaska and Hawaii, while exceeding our i