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Merchants Capital Closes $160M Multi-Investor Tax Credit Fund
Merchants Capital announced the closing of Merchants Capital Tax Credit Equity Fund 31, a $160 million multi-investor fund with 10 institutional investors.
Merchants Fund 31 will infuse equity into nine affordable housing properties, creating or preserving more than 1,400 affordable homes in Rhode Island, Ohio, Kentucky, Pennsylvania, Connecticut, Utah and Michigan. The investors included both bank and economic investors, and included seven repeat and three new investors to the Merchants Capital tax credit platform.
“The successful closing of Fund 31 reflects the strength of the relationships we have built with our investor partners and their continued confidence in both our firm and the mission of affordable housing,” said Ryan Thompson, Senior Vice President of Syndications and Investor Relations at Merchants Capital.
The firm’s capital raise, which has now surpassed $3 billion since the platform launched five years ago, comprises approximately $1.3 billion in multi-investor offerings, $1.6 billion in proprietary fund investments and $91 million in state credit syndications.
