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CARMEL, Ind. (July 20, 2026)—Merchants Capital today announced the closing of Merchants Capital Tax Credit Equity Fund 31, a $160 million multi-investor fund with 10 institutional investors.
Merchants Fund 31 will infuse equity into nine affordable housing properties that will create or preserve more than 1,400 affordable homes in Rhode Island, Ohio, Kentucky, Pennsylvania, Connecticut, Utah and Michigan. The investors included both bank and economic investors and included seven repeat and three new investors to the Merchants Capital tax credit platform.
“The successful closing of Fund 31 reflects the strength of the relationships we have built with our investor partners and their continued confidence in both our firm and the mission of affordable housing,” said Ryan Thompson, Senior Vice President of Syndications and Investor Relations at Merchants Capital. “We are deeply grateful for the trust they place in our team. Together with our development partners, we are investing in communities, expanding housing opportunities and creating lasting impact for families and residents across the country.”
“The successful closing of Fund 31 reflects the strength of the relationships we have built with our investor partners and their continued confidence in both our firm and the mission of affordable housing. We are deeply grateful for the trust they place in our team. Together with our development partners, we are investing in communities, expanding housing opportunities and creating lasting impact for families and residents across the country.”
The firm’s capital raise, which has now surpassed $3 billion since the platform launched five years ago, comprises approximately $1.3 billion in multi-investor offerings, $1.6 billion in proprietary fund investments and $91 million in state credit syndications.
“Together with our partners, our investments have supported construction and preservation of more than 24,600 units of affordable housing in 31 states across more than 200 properties,” said Julie Sharp, President of Equity Investments at Merchants Capital. “It is incredibly rewarding to work alongside such a dedicated team and platform of investors and developers who share our vision of delivering high-quality, stable, safe and affordable housing for all.”
“Together with our partners, our investments have supported construction and preservation of more than 24,600 units of affordable housing in 31 states across more than 200 properties. It is incredibly rewarding to work alongside such a dedicated team and platform of investors and developers who share our vision of delivering high-quality, stable, safe and affordable housing for all.”
To learn more about Merchants Capital and its services, visit www.MerchantsCapital.com or find Merchants Capital on Facebook, X, LinkedIn and Instagram.
