IRVINE, Calif. , May 05, 2025 (GLOBE NEWSWIRE) — WNC & Associates (WNC), a family-owned business known as both a pioneer and leader in the affordable housing industry, has closed WNC Institutional Tax Credit Fund 57, L.P. (Fund 57), a $228MM fund which includes 26 multi-family properties across 17 states.
“WNC remains deeply committed to addressing the affordable housing crisis across the nation,” said Anand Kannan, President of WNC. “Fund 57 reflects our ongoing strategy to partner with mission-aligned developers and investors to create and preserve housing that supports vulnerable and underserved populations. This fund’s geographic and demographic diversity underscores our belief that everyone deserves a safe, affordable place to call home.”
The fund is designed to invest in partnerships or limited liability companies that own apartment communities developed or rehabilitated to serve low-income residents, including those with specific needs such as seniors, individuals with visual or hearing impairments, physical disabilities, histories of homelessness, special needs, or single-parent households. Through these investments, the fund enables the allocation of federal Low-Income Housing Tax Credits (LIHTC) and, in some cases, California state tax credits to investors, who can apply them to offset applicable federal or state tax liabilities.
“We are incredibly grateful for the trust and confidence our investor partners have placed in WNC,” added Christine Cormier, Executive Vice President of Investor Relations at WNC. “Fund 57’s successful close speaks to the strong demand for high-quality, community-focused affordable housing investments that deliver both social impact and long-term value. We are proud to continue advancing this mission together.”
Fund 57 has made 26 investments representing 1,908 units. The 17 states in which the investments are located include Alaska, Arizona, California, Idaho, Iowa, Kansas, Maine, Massachusetts, Mississippi, Montana, North Dakota, Nebraska, Oklahoma, Texas, Virginia, Vermont, and West Virginia. Investments in affordable housing through Fund 57 encompassed a mix of 12 new construction properties and 14 preservations, including two rehabilitations of historic properties.
About WNC & Associates
Founded in 1971, WNC & Associates (WNC) is a family-owned business known as both a pioneer and leader in the affordable housing industry. WNC and its affiliated companies specialize in tax credit syndication, affordable housing development, and preservation equity fund investments. Combined, the WNC companies have acquired approximately $18.2 billion in assets across 49 states, including more than 1,800 affordable rental properties that house more than 1 million residents. With offices in 16 states, WNC has partnered with more than 400 developers and 125 institutional investors. To learn more, visit: https://www.wncinc.com/.
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IDEA HALL
Meghan Webb
Meghan@ideahall.com
