WNC has closed WNC Institutional Tax Credit Fund X, California Series 21, L.P. (Fund CA21), a multi-investor fund featuring six properties in the state of California. The fully specified fund raised $120 million for investment into low-income housing projects totaling 831 units. The fund also attracted two new investors and forged new relationships with two developer partners.

“WNC’s strong investor and developer partnerships have led to continued interest in our California targeted funds,” commented Executive Vice President – Investor Relations Christine Cormier. “This is remarkable, considering many syndicators have left the California fund arena.”

The portfolio includes both new construction and rehabilitation projects; of the rehab projects one is a historic rehab of a former hotel built in 1903 in Pasadena, California. All projects will include social services such as financial literacy, health education, art and resume building.

“Affordable housing provides a solid foundation, but we have found the extra help from social services can boost quality of life for our residents and their families immeasurably,” remarked Cormier.

Fund CA21 ended WNC’s fiscal year on a high note. Other closings during WNC’s fiscal year included a multi-investor national fund and several proprietary transactional closings.