Preservation Equity Funds
More Than A Return
In too many communities across the nation, Americans are struggling to afford a place to live. More than 20 million renter households – including working families, seniors, and veterans – spend over 30% of their income on rent. More than half of these households spend more than 50% of their income on rent.
In short, the demand for affordable rental units far outstrips supply, and the problem is getting worse because we are losing approximately 100,000 affordable rental units each year due to demolition, conversion to market rate apartments, condos and commercial use.
To address this crisis, WNC launched Preservation Equity Fund Advisors (PEF) with a mission to preserve existing, affordable rental housing for low- to moderate-income residents while seeking cash flow and real estate appreciation returns.
PEF acquires existing affordable rental properties that are renting to tenants making 80% (in the aggregate) or less of area median income, including:
- LIHTC apartments that have completed or substantially completed their 10-year tax credit period
- Project-based Section 8 apartments and/or apartments with Section 8 vouchers holders
- Stand-alone (non-LIHTC) properties that meet the PEF’s 80% aggregate income test