Merchants Capital New York provides $2.2 billion in 2024 financing

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Manhattan, NY The New York office of leading financial services provider Merchants Capital today announced a total production volume of $2.2 billion for 2024, setting a new threshold for debt and tax credit equity investments in multifamily affordable housing. These numbers financed the construction and preservation of affordable, multifamily and senior housing nationwide.

Merchants Capital’s New York office provided $1.9 billion in debt, leveraged from government-sponsored enterprise (GSE) loans and Merchants Bank’s balance sheet, and $213 million in equity investments.

“Merchants draws on a great deal of internal debt and equity expertise to execute various financing structures for affordable housing development,” said Mat Wambua, vice chairman and executive vice president, agency lending at Merchants Capital. “This, combined with our streamlined approach, is fueling Merchants’ growth despite a challenging market, while also creating efficiency for our clients. Together, we are making a tangible impact in the affordable housing industry.”

Nationally, Merchants Capital was recently named:

• Freddie Mac: #2 Optigo® Targeted Affordable Housing Lender in 2024

• Freddie Mac: Top Lender of Forward Rate-Locks for 2024

• MHN : #7 of Top 20 Mortgage Banking and Brokerage Firms of 2025

• CPE:  #9 of Top 20 Commercial Mortgage Banking and Brokerage Firms of 2025

• Commercial Observer: #33 on the Power Finance 2024 List; among the 50 most influential players in commercial real estate

Merchants Capital regularly collaborates with the New York City Housing Authority (NYCHA), New York City Housing Development Corp. (HDC), Department of Housing Preservation & Development (HPD), New York State Housing Finance Agency (HFA), Freddie Mac and Fannie Mae.