Leading financial services provider Merchants Capital announced the completion of its sixth Freddie Mac-sponsored Q-Series transaction, a $373.3 million securitization of 18 stabilized multifamily mortgage loans—the largest number of loans Merchants Capital has securitized in a single Q-Series transaction. It is Merchants Capital’s largest Q-Series closing to date.
The loans comprise 3,047 multifamily units with significant concentrations in Indiana, Iowa, Florida and South Carolina. More than 64% of the units are designated as affordable housing, reserved for households earning at or below 80% of the area median income (AMI).
“Freddie Mac products and Q-Series transactions have increased Merchants’ lending capacity and innovation in devising multifamily and affordable housing financing solutions,” said Evan Gibson, Merchants Capital’s Executive Vice President of Capital Markets. “We are grateful for our partnership and shared commitment in support of affordable housing development.”
Gibson launched Merchants’ capital markets platform in 2020 and has since built it into a high performing team responsible for executing more than $5 billion in securitizations; four credit risk transfer (CRT) transactions totaling $3.5 billion are included among these securitizations.
