NEW YORK (March 17, 2025)—Leading financial services provider Merchants Capital today announced $120 million in financing for the construction of Museum Parc, a 250-unit mixed-income, mixed-use and retail development in downtown Newark, N.J. The development will integrate housing units with the 4,120 square-foot Newark Museum of Art (NMOA) gallery and approximately 2,300 square feet of ground-floor retail space, serving as an anchor to the Newark Arts & Education District. Merchants Capital secured $58 million, comprising a Freddie Mac 9% Low-Income Housing Tax Credit (LIHTC) Forward permanent loan and a $62 million construction loan from Merchants Bank for Museum Parc. “This deal represents Merchants’ streamlined internal collaboration, and we are proud of the efficiency demonstrated across the organization to arrange key components in the capital stack,” said Michael Milazzo, Senior Vice President of Originations at Merchants Capital. “Likewise, Museum Parc is a unique concept, representing the innovative ways our partners are providing affordable housing solutions nationwide. We look forward to witnessing its impact in Newark.” Of the 250 apartments, 20 percent will be income restricted. Forty-five units will be affordable to households earning 50 percent of AMI and the remaining five will be reserved for households earning 30 percent of AMI. The development is designed to foster community and connection to NMOA via indoor and outdoor space. It will include a six-story building and a 12-story structure, housing, a fitness center, co-working space, lobby, bicycle room, game room, lounge and speakeasy, as well as a 3,000-square-foot roof terrace accessed through the garden room and commercial kitchen area. Museum Parc is co-developed by LMXD and MCI Collective. As the mixed-income and market-focused member of the L+M family of companies, one of the nation’s leading builders and developers of affordable housing, LMXD focuses on culture, community and sustainability in the Northeast and across the country. Urban revitalization firm MCI Collective delivers quality housing and retail by reimagining urban spaces, with an emphasis on arts and culture to enhance design and value.   “Museum Parc will help anchor the Newark Arts & Education District by providing much-needed mixed-income rental housing, the expansion of the Newark Museum of Art, and ground-floor retail to activate the streetscape,” said Jake Pine, Managing Director at LMXD. “We are grateful for our partners at Merchants Capital for helping make this project happen.” “This project wouldn’t be possible without a top-tier partner like Merchants Capital, whose expertise brought our vision to life,” said Siree Morris, Managing Partner at MCI Collective. “It’s a game-changer for Newark, strengthening arts and culture while supporting the Newark Museum.” Museum Parc is expected to be completed by 2027. To learn more about Merchants Capital and its services, visit www.MerchantsCapital.com or find Merchants Capital on Facebook, X, LinkedIn and Instagram.

CARMEL, Ind. (March 14, 2025)—Leading financial services provider Merchants Capital today announced that it provided $7 billion in debt and equity financing for 2024, ending the year with more than $26 billion in assets under management. The firm remains focused on growing market share by leveraging Merchants Bank's dynamic balance sheet to facilitate agency business with existing and new sponsors across the country. “The ability to provide a combination of debt and equity for affordable housing development fueled this year’s production volume,” said Mat Wambua, Vice Chairman and head of Merchants Capital’s New York office. “The hard work and collaboration across Merchants’ regional offices and platforms has been exceptional, and I congratulate our team for its proactivity in providing solutions for clients.” Merchants Capital achieved top government sponsored entity (GSE) lender rankings in 2024, including: Freddie Mac: #2 Optigo® Targeted Affordable Housing Lender in 2024 Freddie Mac: Top Lender of Forward Rate-Locks for 2024 The company also attained rankings that include: U.S. Department of Housing and Urban Development (HUD): #3 HUD Initial Endorsements by Lender (MAP Applications) of 2023 Multi-Housing News: #7 of Top 20 Mortgage Banking and Brokerage Firms of 2024 Commercial Property Executive:  #10 of Top 20 Mortgage Banking and Brokerage Firms of 2024 “Merchants' strategic loan securitization program provides us with increased balance sheet capacity to more effectively manage capital and support growth objectives,” said Evan Gibson, Executive Vice President of Capital Markets at Merchants Capital. “We are well-positioned to continue as one of the top multifamily and healthcare bridge lenders in the country.” Merchants’ Capital Markets team executed three securitizations totaling $1.5 billion in 2024, including a $324.6 million Freddie Mac Q-series transaction (the company’s fifth since 2022), a $543.5 million CDS backed by multifamily loans and a $628.9 million cash securitization backed by healthcare commercial real estate (CRE). “Merchants has built internal expertise to manage more aspects of multifamily finance,” said Marsha Goff, Executive Vice President of Originations and head of Merchants Capital’s Minneapolis-St. Paul office. “Clients are benefitting from Merchants’ local market knowledge, ability to execute nationally and services that span from originations to loan servicing.” “We are aligned with partners who provide creative solutions for market rate and affordable housing financing, including historic renovations and office conversions,” said Lee Oller, Executive Vice President of Originations and head of Merchants Capital’s Chicago office. “We’re seeing value being placed on maintaining and creating neighborhoods and communities, which will improve everyone’s quality of life. These projects are particularly rewarding for Merchants.” Merchants Capital is headquartered in Carmel, Ind. with offices in New York City, Minneapolis-St. Paul, Chicago, Boston and Washington, D.C. To learn more about Merchants Capital and its services, visit www.merchantscapital.com or find Merchants Capital on Facebook, X, LinkedIn and Instagram.

Andrew Weil NEW YORK (March 6, 2025)—Leading financial services provider Merchants Capital today announced the additions of industry veterans Andrew Weil and Justin Ginsberg, both with the title of Executive Vice President of Originations, to lead its fifth debt sales team nationwide. In these positions, Weil and Ginsberg will provide leadership and expertise to enhance Merchants Capital's national multifamily and affordable housing debt and equity footprint. Weil and Ginsberg have worked together in the affordable housing industry for more than 30 years. At Centerline Capital Group, they led the affordable housing tax credit and debt platform. For the last 12 years, they were the co-heads of the affordable housing agency lending platform at Grandbridge, a subsidiary of Truist Bank. Justin Ginsberg “Andy and Justin are highly regarded for their expertise in affordable housing and agency lending. With limited customer overlap, this additional team allows for maximum reach across the industry to execute on Merchants’ pursuit to be the premier affordable housing financing provider nationwide,” said Michael Dury, President and CEO of Merchants Capital. “Their extensive industry knowledge and experience, combined with our active balance sheet lending and tax credit equity platform, will position them to best serve existing and new relationships.” Merchants Capital consistently ranks among the top agency lenders in the United States, holding licenses with Fannie Mae, Freddie Mac and HUD/FHA. This expertise, combined with Merchants’ bank balance sheet products, provide sponsors with beginning-to-end financing solutions that adapt to market changes. To learn more about Merchants Capital and its services, visit www.MerchantsCapital.com or find Merchants Capital on Facebook, X, LinkedIn and Instagram.

NEW YORK (Feb. 25, 2025)—Leading financial services provider Merchants Capital today announced more than $316 million in construction, permanent and equity financing for the second phase of Alafia (Alafia Phase II), a mixed-use development in East New York, Brooklyn, N.Y. Part of an expansive affordable housing development and the Vital Brooklyn Initiative community development program, the second phase of Alafia will provide 634 affordable and supportive housing units, and 22,000 square feet of retail and community facility space. This marks the second deal in the state to utilize a Freddie Mac Unfunded Permanent TEL Forward loan.  Merchants Capital, in partnership with the New York State Housing Finance Agency (HFA), provided $48.7 million Freddie Mac Unfunded Permanent TEL Forward financing for of the second phase of Alafia. The $192.7 million construction loan was provided by Bank of America in conjunction with Merchants Capital. In partnership with Bank of America, Merchants Capital closed $174.8 million in 4% Low-Income Housing Tax Credit (LIHTC) equity. The second phase of Alafia is part of a multi-phase effort led by Empire State Development (ESD) to revitalize Brooklyn and serve the neighborhood with ample affordable and supportive housing, outdoor space and facilities for healthcare and community needs.   Alafia Phase II is being co-developed by RiseBoro Community Partnership, Inc., L+M Development Partners, LLC and Apex Building Group. RiseBoro Community Partnership has more than four decades of experience offering services designed to support the needs within their communities.    Apex Building Group has created or preserved more than 7,400 affordable housing units throughout New York and New Jersey. L+M Development Partners is a nationally recognized affordable developer. With its affiliates, L+M has over 57,000 high-quality residential units in construction or that have been acquired, preserved, or completed. Alafia Phase II includes two 14-story residential buildings—A1-A2 and B1—with studio, one-, two- and three-bedroom apartments restricted for households earning between 40% and 70% of the Area Median Income (AMI). In building A1-A2, 47 supportive housing units will be set aside for seniors re-entering the community from incarceration and 59 units will be designated for formerly homeless youth and their families, along with a daycare center and retail space. Additional affordable apartments and residential parking will comprise building B1. Shared amenities among both buildings include a fitness center, children’s playroom, community rooms and outdoor courtyards. Free Wi-Fi will be available to residents in their apartments and common areas.    “RiseBoro is committed to building strong, thriving communities and Alafia Phase II is a testament to that mission,” said Kieran Harrington, CEO of RiseBoro Community Partnership. “This development goes beyond affordability—it creates opportunities for stability, connection and growth by integrating deeply affordable and supportive housing with essential community services.”  “L+M Development Partners is thrilled to advance Alafia Phase II, bringing much-needed affordable housing to East New York,” said L+M Development Partners CEO Lisa Gomez. “We are grateful to our partners for their dedication to this transformative project and the community it will serve.”  “Apex is immensely proud of the work we are doing here in Brooklyn at Alafia, as this development is transforming the community by creating an entire new neighborhood,” said Apex Building Group CEO Lee Brathwaite. “The project enables Apex to further its mission of producing quality affordable housing while also establishing a healthy and welcoming environment for the people of East New York.”  Construction of a new public street, Abule Avenue, is part of Phase II. It will connect Fountain Avenue and Erskine Street to provide access for pedestrians and vehicles and support further phases of Alafia redevelopment.   Construction began in December 2024 and is expected to be completed by the summer of 2027.  To learn more about Merchants Capital and its services, visit www.MerchantsCapital.com or find Merchants Capital on Facebook, X, LinkedIn and Instagram.

NEW YORK (Feb. 12, 2025)—The New York office of leading financial services provider Merchants Capital today announced a total production volume of $2.2 billion for 2024, setting a new threshold for debt and tax credit equity investments in multifamily affordable housing. These numbers financed the construction and preservation of affordable, multifamily and senior housing nationwide. Merchants Capital’s New York office provided $1.9 billion in debt, leveraged from government-sponsored enterprise (GSE) loans and Merchants Bank’s balance sheet, and $213 million in equity investments. “Merchants draws on a great deal of internal debt and equity expertise to execute various financing structures for affordable housing development,” said Mat Wambua, Vice Chairman and EVP, Agency Lending at Merchants Capital. “This, combined with our streamlined approach, is fueling Merchants’ growth despite a challenging market, while also creating efficiency for our clients. Together, we are making a tangible impact in the affordable housing industry.” Nationally, Merchants Capital was recently named: Freddie Mac: #2 Optigo® Targeted Affordable Housing Lender in 2024 Freddie Mac: Top Lender of Forward Rate-Locks for 2024 MHN : #7 of Top 20 Mortgage Banking and Brokerage Firms of 2025 CPE:  #9 of Top 20 Commercial Mortgage Banking and Brokerage Firms of 2025 Commercial Observer: #33 on the Power Finance 2024 List; among the 50 most influential players in commercial real estate Merchants Capital regularly collaborates with the New York City Housing Authority (NYCHA), New York City Housing Development Corporation (HDC), Department of Housing Preservation & Development (HPD), New York State Housing Finance Agency (HFA), Freddie Mac and Fannie Mae. To learn more about Merchants Capital and its services, visit www.merchantscapital.com or find Merchants Capital on Facebook, X, LinkedIn and Instagram.

CARMEL, Ind. (Jan. 28, 2025)—Merchants Capital today announced $1.08 billion in fund investments closed across the firm’s multi-investor, proprietary and state credit offerings for the year ended Dec. 31, 2024. The firm’s capital raise, which has surpassed $2.1 billion since the platform launched in 2021, comprises $900 million in multi-investor offerings, $68.8 million in state credit syndications and $1.1 billion in proprietary fund investments. In January 2025, the firm closed Merchants Capital Tax Credit Equity Fund 21, LLC, a $131.2 million multi-investor fund with eight bank investors. In September 2024, the firm closed Merchants Capital Tax Credit Equity Fund 19, L.P., its largest ever fund capital raise at $293 million with a large institutional investor. “Successfully raising $1.08 billion in tax credit equity in one year is a remarkable achievement,” said Julie Sharp, Executive Vice President at Merchants Capital. “In only four years, we have built a $2.1 billion investment portfolio managed on behalf of more than 40 institutional investors that provides capital for the construction and preservation of safe, quality affordable housing for more than 19,000 families in 26 states.” “Our success is a testament to our team, the support of our investor and developer partners and the innovative platform we have built across all business lines at Merchants Capital,” said Linda Hill, Executive Vice President at Merchants Capital. “It has been extremely rewarding to build out an equity originations platform in a firm that offers industry-leading debt products and balance sheet solutions for affordable housing developers,” said Josh Reed, Executive Vice President of Acquisitions at Merchants Capital. “We are grateful to our developer and investor partners, who make our success possible.”    “Our remarkable production results reflect strongly on the capabilities and investments we have made in our asset, fund and risk management team of professionals who are steadfast in their dedication to our investor and developer partners,” said Chris Messmann, Executive Vice President of Syndications and Tax at Merchants Capital. To learn more about Merchants Capital and its services, visit www.merchantscapital.com or find Merchants Capital on Facebook, X, LinkedIn and Instagram.