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 Tax Credit Equity Fund at $180M
Merchants Capital, headquartered in Carmel, IN, has closed Merchants Capital Tax Credit Equity Fund X, L.P. Fund X represents the company’s second and largest national multi-investor fund with a total capital raise of $180 million from 15 institutional investors, including eight repeat and seven new investors. Merchants Fund X will infuse equity into 18 affordable housing properties that will create or preserve more than 2,400 affordable homes in 12 states.
“With an average rent discount to market of 34%, the affordable homes supported by Merchants Fund X offer families a meaningful boost in quality of life that would not be possible without the creativity, dedication and hard work of our investor and development partners,” said Julie Sharp, EVP at Merchants Capital.
The 18 properties included in Merchants Fund X are in California, Texas, North Carolina, Connecticut, Missouri, Indiana, Ohio, Michigan, Illinois, Pennsylvania, Mississippi and Oregon.
- ◦Financing
