The New York office of leading financial services provider Merchants Capital 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.
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 EVP, 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 Corporation (HDC), Department of Housing Preservation & Development (HPD), New York State Housing Finance Agency (HFA), Freddie Mac and Fannie Mae.
With more than 30 years of success built on putting people first, Merchants Capital is a proven leader in financing for multifamily housing nationwide. Our licenses with Fannie Mae, Freddie Mac and HUD/FHA, in addition to our bank’s balance sheet products, allow us to offer custom solutions with agility and ease of execution, expanding access to housing in meaningful and impactful ways. Recognized as a top five affordable lender, Merchants Capital pairs our comprehensive debt offerings with in-house tax credit equity to provide a one-stop-shop for developers and owners.
