Preservation Fairness Fund Advisors has absolutely invested its WNC Preservation Fairness Fund 2 in $229 million in property throughout six states. Fund 2 is a $100 million fairness fund that closed in Might 2022.
The fund’s funding goal is to accumulate inexpensive condominium communities serving residents making 80% or much less of the world median revenue via revenue certification means testing and to protect affordability throughout the interval of possession and past. Goal markets embrace excessive cost-burdened communities within the U.S. with vital obstacles to entry, robust market fundamentals, and a considerable hole between inexpensive and market fee rents.
Fund 2 has made 12 investments representing 1,405 items at an mixture 59% leverage. The six states by which the investments are situated embrace California, Colorado, Florida, Illinois, Maryland and Washington.
The completion of the funding capability in Fund 2 brings whole property below administration by PEF Advisors to $344 million with 2,081 items.
