Carmel, Indiana-based multifamily financier Merchants Capital has hired Paul Bernardin as senior vice president of bridge and construction lending. With more than 20 years of experience in multifamily real estate, Bernardin is a recognized leader in the industry with extensive expertise in underwriting, acquisitions, asset management and finance.
Bernardin has a deep understanding of credit and construction monitoring, specifically with Low Income Housing Tax Credit (LIHTC) properties, which will not only support the existing debt platform but also the newest product offering at the firm, LIHTC equity syndication.
In his new role at Merchants Capital based out of Boston, Bernardin will be responsible for monitoring new construction and substantial rehabilitation loans for the Department of Housing and Urban Development (HUD), Government-Sponsored Enterprise (GSE) and Merchants Bank of Indiana lending platforms.
Prior to his role at Merchants Capital, Bernardin most recently served as senior vice president, director of underwriting and due diligence at Boston Capital Corporation. In this position, Bernardin managed a team of 14 underwriting professionals responsible for all properties closed by Boston Capital representing more than $1.2 billion in investment in affordable housing properties. Bernardin also previously held principal roles at RTM Consulting LLC and JPI Partners LLC.
Bernardin is a graduate of Boston College with a bachelor’s degree in finance.