Carmel, Indiana-based financial services provider Merchants Capital provided more than $6.2 billion in debt and $656 million in tax credit equity financing for 2023.
The company leveraged the Merchants Bank balance sheet for more than $4 billion in production and ended the year with more than $25 billion in assets under management.
Merchants Capital achieved top government-sponsored enterprise (GSE) lender rankings in 2023, including:
- #1 Freddie Mac Multifamily Optigo® TAH Lender
- Top 5 Fannie Mae 2023 Producers for Multifamily Affordable Housing
The company also attained rankings that include:
- Top 10 HUD Lenders of 2023
- #7 Top Mortgage Banking and Brokerage Firms of 2024 by Multi-Housing News
- #10 Top Commercial Mortgage Banking and Brokerage Firms of 2024 by Commercial Property Executive
Merchants was previously named the #3 Multifamily Affordable Lender by the Mortgage Bankers Association and the #2 Top Affordable Lender of 2022 by Affordable Housing Finance.
Merchants continued to execute innovative capital markets strategies, closing two securitizations in 2023: a $304 million Freddie Mac Q-Series transaction, the company’s fourth since 2021, and a $1.13 billion Capital Relief Trade (CRT) transaction backed by healthcare commercial real estate (CRE). The CRT is the market’s first such securitization collateralized by CRE assets. It was awarded Honorable Mention for the 2023 North American Transaction of the Year by Structured Credit Investor.
Merchants’ tax credit equity platform posted unprecedented growth since its launch in 2021. The platform recently surpassed $1.4 billion in equity raised in three years and posted back-to-back fund closings in December 2023 and January 2024 of more than $430 million.
Merchants is headquartered in Carmel, Indiana, with offices in New York City, Minneapolis-St. Paul, Chicago, Boston and Washington, D.C.
