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Merchants Capital Closes $196.5M Tax Credit Fund

Merchants Capital closed the Merchants Capital Tax Credit Equity Fund 15, L.P. (Merchants Fund 15). Merchants Fund 15 represents the company’s largest and most diverse national fund, with a total capital raise of $196.5 million from 14 institutional investors, including 10 repeat and four new investors.

Merchants Fund 15 will infuse equity into 19 affordable housing properties that will create or preserve more than 2,300 affordable homes in Minnesota, Indiana, Ohio, Florida, Texas, Wisconsin, Michigan, North Carolina, Illinois, Pennsylvania, Kentucky, Colorado, and California. The closing of Merchants Fund 15 comes on the heels of Merchants Capital’s recent recognition by Affordable Housing Finance as the #2 largest lender for affordable housing in the United States.

“Since launching our national equity platform in 2021, Merchants Capital has raised more than $800 million in tax credit equity and originated over $15 billion in debt to support multifamily housing across the United States,” said Julie Sharp, Executive Vice President of Merchants Capital.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.

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