CARMEL,
Ind., July 21, 2023 /PRNewswire/ -- (Nasdaq:
MBIN) Merchants Capital is pleased to announce the closing of
Merchants Capital Tax Credit Equity Fund 15, L.P. (Merchants Fund
15). Merchants Fund 15 represents the company's largest and most
diverse national fund with a total capital raise of $196.5 million from 14 institutional investors,
including 10 repeat and four new investors.
Merchants Fund 15 will infuse equity into 19 affordable housing
properties that will create or preserve more than 2,300 affordable
homes in 13 states.
"The successful closing of Merchants Fund 15 would not be
possible without the unwavering support from an extraordinary
partnership of developers, investors and the Merchants team, and
our shared commitment to address the critical need for affordable
housing across the United States,"
said Ryan Thompson, Vice President
of Syndications and Investor Relations at Merchants Capital.
"Since launching our national equity platform in 2021, Merchants
Capital has raised more than $800
million in tax credit equity and originated over
$15 billion in debt to support
multifamily housing across the United
States," said Julie Sharp,
Executive Vice President of Merchants Capital. "This remarkable
achievement has solidified Merchants Capital as an industry leader
in affordable housing finance and is a testament to the strength of
our team, the steadfast support of our investor and developer
partners and the innovative platform we have built."
The closing of Merchants Fund 15 comes on the heels of Merchants
Capital's recent recognition by Affordable Housing Finance as the
#2 largest lender for affordable housing in the United States.
"We are proud to be at the forefront of affordable housing
finance," said Linda Hill, Executive
Vice President at Merchants Capital. "We are incredibly grateful to
the team that made this possible and the investors and developers
who have entrusted us with the financing for key affordable housing
projects throughout the United
States."
The 19 properties included in Merchants Fund 15 are located in
Minnesota, Indiana, Ohio, Florida, Texas, Wisconsin, Michigan, North
Carolina, Illinois,
Pennsylvania, Kentucky, Colorado and California.
To learn more about Merchants Capital and its services, visit
www.merchantscapital.com or find Merchants Capital
on Facebook, Twitter, LinkedIn and Instagram.
ABOUT MERCHANTS CAPITAL
With over 30 years of success
built on putting people first, Merchants Capital is a proven leader
in financing for multi-family housing nationwide. Our licenses with
Fannie Mae, Freddie Mac, and HUD/FHA, in addition to our bank's
balance sheet products, allow us to offer custom solutions with
agility and ease of execution, expanding access to housing in
meaningful and impactful ways. Recognized as a top five
affordable lender, Merchants Capital pairs our comprehensive debt
offerings with in-house tax credit equity to provide a
one-stop-shop for developers and owners. To learn more about
Merchants Capital, visit www.merchantscapital.com.
Forward-Looking Statements
This press release
contains forward-looking statements which reflect the company's
current views with respect to, among other things, future events
and financial performance. These statements are often, but not
always, made through the use of words or phrases such as "may,"
"might," "should," "could," "predict," "potential," "believe,"
"expect," "continue," "will," "anticipate," "seek," "estimate,"
"intend," "plan," "projection," "goal," "target," "outlook," "aim,"
"would," "annualized" and "outlook," or the negative version of
those words or other comparable words or phrases of a future or
forward-looking nature. These forward-looking statements are not
historical facts, and are based on current expectations, estimates
and projections about the industry, management's beliefs and
certain assumptions made by management, many of which, by their
nature, are inherently uncertain and beyond our control, such as
the potential impacts of the COVID-19 pandemic. Accordingly, the
company cautions that any such forward-looking statements are not
guarantees of future performance and are subject to risks,
assumptions, estimates and uncertainties that are difficult to
predict. Although the company believes that the expectations
reflected in these forward-looking statements are reasonable as of
the date made, actual results may prove to be materially different
from the results expressed or implied by the forward-looking
statements. A number of important factors could cause actual
results to differ materially from those indicated in these
forward-looking statements, including the impacts of the COVID-19
pandemic, such as the severity, magnitude, duration and businesses'
and governments' responses thereto, on the company's operations and
personnel, and on activity and demand across its businesses, and
other factors identified in Merchant Bancorp's "Risk Factors" or
"Management's Discussion and Analysis of Financial Condition and
Results of Operations" in its Annual Report on Form 10-K and other
periodic filings with the Securities and Exchange Commission.
Any forward-looking statements presented herein are made only as of
the date of this press release, and the company does not undertake
any obligation to update or revise any forward-looking statements
to reflect changes in assumptions, the occurrence of unanticipated
events, or otherwise.
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SOURCE Merchants Bancorp