Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Merchants Capital Closes on Tax Credit Equity Funds
Merchants Capital has closed on two tax credit equity funds totaling more than $233.4 million. They include the $172.5-million Fund V, the Carmel, IN-based company’s first national multi-investor fund, and the $60.9-million Fund III. Combined, they will create or preserve more than 2,550 affordable units across 12 states.
“The successful closing of Merchants Fund V and III, with more than $233.4 million in capital raised from 17 investors, is a milestone achievement for our affordable housing equity platform,” said Julie Sharp, SVP of tax credit equity at Merchants Capital.
Added Linda Hill, SVP of tax credit equity, “The successful closing of Merchants Funds V and III is a testament to the strength of our relationships and innovative platform we have built.”
The 25 properties included in Merchants Funds III and V are in Indiana, Minnesota, North Carolina, Ohio, South Carolina, Michigan, Texas, Kentucky, Tennessee, Wisconsin, Missouri and California.
- ◦Financing
