Business
Merchants Capital Provides Record $8.95 Billion in Debt Financing in 2022
CARMEL, Ind., March 2, 2023 /PRNewswire/ -- (Nasdaq: MBIN) -- Leading financial services provider Merchants Capital announced it closed a record $8.95 billion
About this update from Merchants Bancorp
[{"type":"text","content":"CARMEL, Ind., March 2, 2023 /PRNewswire/ -- (Nasdaq: MBIN) -- Leading financial services provider Merchants Capital announced it closed a record $8.95 billion in debt production in 2022, surpassing the previous record of $7 billion set in 2021.\n\n \n \n \n \n \n \n\n \nThe firm saw significant growth in many product offerings in 2022, including a 77% increase in Merchants Bank balance sheet lending with over $7 billion, a 48% increase in Freddie Mac Targeted Affordable Housing (TAH) production and an overall 27% increase in 2022 financing volume. Merchants Capital continued to execute throughout 2022 despite turbulent market conditions with unprecedented interest rate volatility.\nA recognized leader in the affordable housing industry, Merchants' affordable debt production in 2022 grew dramatically to $5.9 billion, a 90% increase from its $3.1 billion produced in 2021. These record-setting numbers come on the heels of the firm's recent recognitions as the #3 Multifamily Affordable Lender from the Mortgage Bankers Association, the #4 Freddie Mac Multifamily TAH Lender in 2022 and #4 in the number of U.S. Department of Housing and Urban Development (HUD) 221 (d)(4) deals closed, according to the Federal Housing Authority (FHA) multifamily production summary for fiscal year 2022.\n\"It is a true indication of the tenacity of our employees that we are able to announce yet another record-setting year in debt production for our company,\" said Dwayne George, Executive Vice President, National Head of Production at Merchants Capital. \"This great achievement could not be accomplished without the trust of our clients and the incredible hard work of our dynamic team. Throughout 2022, the market proved to be full of unique challenges due to unprecedented inflation and interest rate volatility, yet our team remained steadfast in its approach to create flexible solutions for our clients to support the preservation and development of multifamily housing nationwide.\"\nMerchants Capital aims to provide tailored, end-to-end financing solutions for a variety of multifamily housing projects across the nation. The firm specializes in crafting bridge and agency financing structures to support market-rate and luxury developments, in addition to affordable and workforce housing solutions.\n\"We pride ourselves on being able to provide custom financ...