"There is no higher compliment than when an investor continues to trust us with their business; and it says a lot about how well we have managed our prior funds," says Will N. Cooper, Jr, President and CEO of WNC.
Irvine, CA (PRWEB) March 23, 2011
Irvine, CA-based WNC & Associates ("WNC") is pleased to announce that it has closed WNC Institutional Tax Credit Fund X California Series 9, L.P. ("the Fund"), a $93 million multi-investor low income housing tax credit fund. The Fund closed with nine institutional investors including seven California Banks, one National Bank, and a National Insurance Company. Seven of the nine investors are repeat investors with WNC, leaving room for two new investors. The ratio of repeat investors in this fund was around 80% which has been WNC's historical average for repeat investors in its institutional funds. "There is no higher compliment than when an investor continues to trust us with their business; and it says a lot about how well we have managed our prior funds," says Will N. Cooper, Jr, President and CEO of WNC.
The equity raised will help fund approximately 10 properties with over 700 affordable housing apartment units, all located in California. WNC, now celebrating its fortieth year in business, is a national syndicator of Low Income Housing Tax Credits (LIHTC) investments and as of 2010 ranks as the 17th largest owner of multi-family housing in the United States.
Founded in 1971, WNC is a leading LIHTC Tax Credit syndicator with nearly $5 billion in real estate assets acquired, including more than $1,050 properties in 45 states. WNC has successfully syndicated more than 190 funds on behalf of 19,500 institutional and retail investors, including 21 Fortune 500 companies, multinational banks, and many of the nation’s leading insurance companies. WNC is based in Irvine, California, and has eight offices nationwide. For more information about WNC, please visit its website at http://www.wncinc.com.
Todd F. Williams, Esq., VP of Marketing 714-662-5565, x 160 or twilliams(at)wnccapital(dot)com