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Posted: March 26, 2024
Merchants Capital NY provides $1.7 billion in 2023
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New York, NY The New York office of Merchants Capital delivered a total production volume of $1.7 billion for 2023, surpassing its record-breaking $1.3 billion debt production volume in 2022. These numbers financed the construction and preservation of affordable, multifamily and senior housing nationwide, and include $367 million in forward takeouts.
“Despite a challenging interest rate environment that has broadly depressed origination volume, Merchants continues to grow and outperform competitors,” said Matthew Wambua, vice chairman and EVP, agency lending at Merchants Capital. “We are proud of our innovation, nimbleness and strong partnerships with clients equally committed to affordable housing. We thank our partners for their continued support.”
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) and New York Housing Development Corp. (HDC), New York State HFA, Freddie Mac and Fannie Mae.
Nationally, Merchants Capital provided nearly $7 billion in debt and equity financing for a variety of multifamily projects during 2023. It was recently named the #1 Freddie Mac Multifamily Optigo TAH Lender and ranked among the Top 5 Fannie Mae 2023 Producers for Multifamily Affordable Housing and the Top 10 HUD Lenders of 2023.
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