NEW YORK – The New York office of leading financial services provider Merchants Capital today announces the company provided approximately $1.15 billion in debt financing during 2021 for affordable, multifamily and senior housing preservation and development within the region, earning recognition as a top housing financer in the New York area.
The milestone reflects Merchants Capital New York’s continued success and expansion into a diverse base of offerings for clients, including on-book, Freddie Mac, Fannie Mae and Federal Housing Administration (FHA) loan products.
“Merchants Capital New York started with one main goal in mind – to secure the capital and funding necessary to support crucial public benefit projects” said Mathew Wambua, Merchants Capital Vice Chair & Head of Agency Lending. “Together with our clients, public and government counterparts and the dedication of our entire team of Merchants Capital professionals, we aim to end the housing crisis by providing high-quality homes for all. Thank you to our community for embracing us and helping us serve you, as we welcome a 2022 aimed at accomplishing our mission.”
Merchants’ lending volume extends to a broad swath of affordable projects, including acquisition, preservation and new construction loans for 4%, 9%, Section 8, public, supportive and mixed-income housing projects.
Merchants Capital New York is one of Merchants’ six production hubs nationwide, in addition to Indianapolis, Chicago, Saint Paul, Boston and Washington, D.C., which opened in 2021.