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Merchants Capital Closes $180M Multi-Investor Fund to Support Over 2,400 Affordable Homes in 12 States


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.”

Julie Sharp
EVP, Tax Credit Equity

“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.”

Linda Hill
EVP, Tax Credit Equity

The 18 properties included in Merchants Fund X are in California, Texas, North Carolina, Connecticut, Missouri, Indiana, Ohio, Michigan, Illinois, Pennsylvania, Mississippi and Oregon.

To learn more about Merchants Capital and its services, visit or find Merchants Capital on Facebook, Twitter, LinkedIn and Instagram.


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