CARMEL, Ind. – Merchants Capital is pleased to announce the closing of Merchants Capital Tax Credit Equity Fund X, L.P. (Merchants Fund X). Merchants Fund X represents the company’s second and largest national multi-investor fund with a total capital raise of $180 million from 15 institutional investors, including eight repeat and seven new investors. Merchants Fund X will infuse equity into 18 affordable housing properties that will create or preserve more than 2,400 affordable homes in 12 states.
“With an average rent discount to market of 34%, the affordable homes supported by Merchants Fund X offer families a meaningful boost in quality of life that would not be possible without the creativity, dedication and hard work of our investor and development partners.”
“With more than $30 billion in capital provided to multifamily housing since inception, our company has emerged as a leading debt and equity provider for affordable housing across the United States.”
The 18 properties included in Merchants Fund X are in California, Texas, North Carolina, Connecticut, Missouri, Indiana, Ohio, Michigan, Illinois, Pennsylvania, Mississippi and Oregon.