Carmel, Indiana-based Merchants Capital closed a record $7 billion in debt production in 2021, shattering the firm’s previous record of $4.7 billion in financing in 2020.
The firm achieved growth in all product offerings, including a 72 percent increase in Federal Housing Administration financing to $1.97 billion, a 143 percent increase in Fannie Mae and Freddie Mac production approaching $1 billion and a 65 percent increase in Merchants Bank of Indiana balance sheet financing with more than $4 billion in volume in 2021.
The firm’s affordable housing debt production soared to $3.1 billion, representing a 50 percent increase year over year. This announcement follows the 2020 honor from the Mortgage Bankers Association that recognized Merchants Capital as the #4 multifamily affordable lender nationwide.
“We are dedicated to providing our clients with the expertise needed to offer financing solutions that support America’s diverse multifamily housing needs,” said Lee Oller, Executive Vice President and head of Merchants Capital’s Chicago office. “Our growth is a reflection of the deep commitment of the entire Merchants Capital team, partners and agency partners.”
Merchants Capital is headquartered in Indianapolis, with five additional production hubs nationwide located in Boston, Chicago, New York City, Saint Paul and Washington, D.C. Since 2019, Merchants’ staff has grown by 83 percent as the firm has added additional product offerings and opened regional offices in Washington D.C. and Boston.
