Merchants Capital
CARMEL, Ind. – Financial services company Merchants Capital today announces it has secured $71 million in total financing for the Wildhorse Development, a market-rate, mixed-use luxury apartment and service retail complex located in Chesterfield, Missouri. The Wildhorse Development features 188 luxury units, a 15,000-square-foot Ruth’s Chris Steakhouse with a rooftop bar and 10,000 square feet of service retail. It is conveniently located 25 minutes outside of downtown St. Louis, a region known as an academic and corporate center for the biomedical sciences and home to some of the country’s largest privately held corporations. Great Lakes Capital finished construction on the asset in April 2021 and has leased to 100% occupancy in less than seven months. With the proceeds from the Merchants Bank of Indiana facilities, Great Lakes Capital paid off its existing construction loan, bought out Limited Partners from the original development and secured additional interest only for the property prior to the permanent financing takeout. Brian Shelbourne “Great Lakes Capital presented us with this tremendous opportunity, and we were committed to structuring the financing to best fit their needs,” said Brian Shelbourne, Vice President of Originations at Merchants Capital. “With our team’s decades-long experience working exclusively on multifamily housing, we pride ourselves on our ability to provide customized financing solutions to meet the requirements of each unique transaction.” Great Lakes Capital, a real estate private equity firm, served as the sponsor of the project. “The Wildhorse Development is a signature, long-term asset for our team,” said Ryan Rans, Managing Partner of Great Lakes Capital. “It has been incredibly successful immediately out of the gate, and we’ve been thrilled to partner with Merchants Capital on the refinance. We look forward to working with them again on future deals, as we’ve always found them to be a creative, nimble and astute partner.” To learn more about Merchants Capital and its services, visit www.merchantscapital.com or find Merchants Capital on Facebook, Twitter, LinkedIn and Instagram. ### ABOUT MERCHANTS CAPITAL Established in 1990, Merchants Capital is one of the nation’s top lenders for the refinance, acquisition, new construction and substantial rehabilitation of multifamily, affordable, senior and student housing. Whether you are considering tax credit syndication, Freddie Mac, Fannie Mae, HUD/FHA insured or balance sheet financing, let our personalized services help you meet your financing objectives. Experience the creativity of a small lender, with all the capabilities of a large institution. To learn more about Merchants Capital, visit www.merchantscapital.com. ABOUT GREAT LAKES CAPITAL Great Lakes Capital is a real estate development and private equity firm uniquely positioned to add value to real estate investments through development, redevelopment and opportunistic investment across the real estate spectrum and throughout the capital structure. Headquartered in South Bend, Indiana, with over $1 billion in assets under management or development, GLC concentrates on several core asset classes, including mixed-use, multifamily, industrial, medical office and other similar conforming product types. As a market leader in new development, GLC actively addresses the needs of tenant partners in addition to speculative development meeting needs the market has not yet reacted to. For more information, please visit: www.greatlakescapital.com
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Merchants Capital Secures $71MM+ in Total Financing for Upscale, Mixed-Use Complex in Missouri
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CARMEL, Ind. – Merchants Capital is proud to announce that Julie Sharp, Senior Vice President of Tax Credit Equity, has been appointed to the Affordable Housing Tax Credit Coalition (AHTCC) Board of Directors. Sharp’s appointment became official in early July. The Affordable Housing Tax Credit Coalition is a leading industry trade organization and advocacy group based in Washington, D.C., focused on advocating on behalf of the Housing Credit to finance affordable housing in the United States. Founded in 1988, the AHTCC seeks to preserve, expand and improve the Housing Credit through legislative and regulatory outreach and education. Sharp joined Merchants Capital in March 2020. Under her leadership, Merchants has expanded its service offerings to include a robust tax credit equity platform, allowing the company to serve as a full-service financing provider for affordable housing. [caption id="attachment_2222" align="alignleft" width="121"] Julie Sharp[/caption] “I am honored to represent Merchants Capital on the AHTCC Board of Directors,” Sharp said. “In a time of unprecedented demand for safe, quality affordable housing in our country, I am eager to join the AHTCC board in our support for the Housing Credit as one of the most successful public-private partnerships in our nation’s history that has directly produced more than 3.5 million affordable homes since inception.” As part of the AHTCC Board of Directors, Sharp will serve as an advocate for the Housing Credit on a national stage. She joins a prestigious group, serving alongside some of the country’s top real estate and affordable housing industry professionals. Sharp is also a board member for the Indiana chapter of the Women’s Affordable Housing Network. To learn more about the tax credit equity syndication platform, click here. To learn more about Merchants Capital and its services, visit www.merchantscapital.com or find Merchants Capital on Facebook, Twitter, LinkedIn and Instagram. ###
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Merchants Capital’s Julie Sharp Appointed to Board of Directors for the Affordable Housing Tax Credit Coalition