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Merchants Capital Launches RIA with Focus on Multifamily, Healthcare Loans
Merchants Capital has formed a registered investment advisor, Merchants Asset Management LLC, and secured equity commitments totaling $165 million through a joint venture between an institutional investor and Merchants Bancorp.
The JV will purchase multifamily and healthcare commercial real estate loans from Merchants Capital’s parent company, Merchants Bank of Indiana. This venture will be managed by the newly formed investment advisor and initially operated by Merchants Capital’s Evan Gibson, Terry Oznick and Dean Ramsamooj, while they build out the investment advisory business.
“This unique joint venture increases our ability to serve our top customers by increasing our lending capacity to them and expanding our product suite beyond the constraints of the bank’s balance sheet,” said Michael Dury, president and CEO of Carmel, IN-based Merchants Capital.
Loans purchased by the venture will be financed by JPMorgan through a repurchase agreement that allows up to $600 million of loan capacity.
- ◦Sale/Acquisition
- ◦Financing
