Merchants Capital New York Provides $2.2 Billion in 2024 Financing, Expands Debt and Equity Production

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.