Irvine, Calif. – September 12, 2026 -- WNC & Associates, Inc. has closed a $66.3 million affordable housing fund in California, its 23rd consecutive state-focused vehicle for institutional investors, as the family-owned firm marks 55 years of operations.
Fund CA23 finances six new-construction properties totaling 650 homes
WNC Institutional Tax Credit Fund X California Series 23, L.P. will help four developers complete projects across Los Angeles, San Benito, and San Diego counties. All six properties target families using 4% Low-Income Housing Tax Credits, with 25 units backed by Section 8 rental assistance vouchers.
WNC's 23 California funds have raised nearly $1.5 billion since inception
The consecutive fund series has supported 161 affordable housing properties representing 15,573 homes and $4.2 billion in total development costs, spanning 34 counties across urban, suburban, and rural communities in the state.
WNC has invested more than $4 billion across 350 California properties since 1971
Across 41 California-focused funds over 55 years, the Irvine-based firm has invested in 350 properties across 180 communities statewide, alongside its national portfolio. Founded in Orange County in 1971, WNC has since expanded into a national affordable housing organization while retaining its California footprint.
"Closing CA23 is an important milestone for WNC as we celebrate our 55th year of operations," said Will Cooper Jr., president and CEO of WNC.