IRVINE, Calif., March 07, 2016 (GLOBE NEWSWIRE) -- WNC, a national investor in real estate and community development initiatives, announced today that David Tarquin has joined the firm as director of portfolio management for the company’s new Preservation Equity Funds product line.
WNC’s Preservation Equity Funds will exclusively focus on raising equity for investment in existing affordable housing properties that are at or near the end of their tax credit compliance period and are owned by limited and/or general partners seeking to exit their investment. Tarquin will be a key member of the team that launches this new WNC initiative and will oversee the new portfolio.
“WNC is committed to the preservation of affordable housing communities throughout the United States – a strategy we believe is paramount to the increasingly challenging effort to retain the nation’s supply in the face of demand that far outstrips current supply,” said Will Cooper Jr., president and chief executive officer of WNC. “With Preservation Equity Funds, WNC deepens our commitment to preserving existing affordable housing, and I am confident that our efforts will prove successful with a professional the caliber of David Tarquin as part of our team.”
Prior to joining WNC, Tarquin served as vice president, capital markets, and co-portfolio manager with Pacific Urban Residential in Palo Alto, Calif. In this position, he was responsible for coauthoring the company’s investment strategy in the multifamily sector, co-managing the firm’s multifamily equity fund and serving as the lead liaison with the California Public Employees Retirement System (CalPERS). Tarquin earned a bachelor’s degree from the University of Southern California and is a level III chartered financial analyst candidate.
WNC, founded in 1971 and headquartered in Irvine, Calif., is a national investor in real estate and community development initiatives, as well as a leading investor in low-income housing tax credits (LIHTC). WNC has acquired more than $7 billion of assets totaling in excess of 1,225 properties in 45 states, Washington D.C., and the U.S. Virgin Islands. Since 2000, WNC has been awarded four New Markets Tax Credit (NMTC) allocations, totaling $178 million, and has facilitated development of 17 low-income community projects. WNC’s investor base exceeds 19,500 institutional and retail clients, including Fortune 500 companies, multinational banks, and insurance companies. Additional information is available at www.wncinc.com.
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Source:WNC & Associates