NEW YORK (Feb. 7, 2023) – The New York office of leading financial services provider Merchants Capital announces the firm has set a record-breaking year with its debt production, totaling approximately $1.3 billion during 2022. The total production numbers served to finance and preserve a variety of properties across the nation, including affordable, multifamily and senior housing.
This significant year-end milestone serves to highlight Merchants Capital New York’s notable top-tier status as a financier for a diverse portfolio of clients. To achieve this year’s groundbreaking success, the firm serviced a variety of loan structures including balance sheet, Freddie Mac, Fannie Mae and Federal Housing Administration (FHA) products, among others.
“The continued success of our New York office is a testament to the stamina and dedication of our employees and their persistence in crafting invaluable deal structures for our clients both locally and nationally,” said Mathew Wambua, Merchants Capital’s Vice Chairman, Head of Agency Production. “Over the years, our New York production hub has served as the gateway to properties and developers along the East Coast, and we saw many of those relationships flourish in 2022. We hope to continue to be a resource for affordable housing development and preservation in 2023 and look forward to another year of great growth and success for our team and company.”
“The continued success of our New York office is a testament to the stamina and dedication of our employees and their persistence in crafting invaluable deal structures for our clients both locally and nationally.”
As part of its commitment to increasing accessibility and affordability for housing in the United States, Merchants Capital takes great strides to extend its lending volume to numerous affordable project types including preservation and new construction loans for 4%, 9%, Section 8, public, supportive and mixed-income housing properties.
Merchants Capital New York is one of Merchants’ six production hubs nationwide, in addition to Chicago, Indianapolis, Saint Paul, Washington, D.C. and Boston, which opened in 2022. Nationally, Merchants Capital provided over $8.9 billion in financing for a variety of multifamily projects during 2022.