NEW
YORK, Feb. 7, 2023 /PRNewswire/ -- (Nasdaq:
MBIN) The New York office of
leading financial services provider Merchants Capital announces the
firm has set a record-breaking year with its debt production,
totaling approximately $1.3 billion
during 2022. The total production numbers served to finance and
preserve a variety of properties across the nation, including
affordable, multifamily and senior housing.
This significant year-end milestone serves to highlight
Merchants Capital New York's notable top-tier status as a financier
for a diverse portfolio of clients. To achieve this year's
groundbreaking success, the firm serviced a variety of loan
structures including balance sheet, Freddie Mac, Fannie Mae and
Federal Housing Administration (FHA) products, among others.
"The continued success of our New
York office is a testament to the stamina and dedication of
our employees and their persistence in crafting invaluable deal
structures for our clients both locally and nationally," said
Mathew Wambua, Merchants Capital's
Vice Chairman, Head of Agency Production. "Over the years, our
New York production hub has served
as the gateway to properties and developers along the East Coast,
and we saw many of those relationships flourish in 2022. We hope to
continue to be a resource for affordable housing development and
preservation in 2023 and look forward to another year of great
growth and success for our team and company."
As part of its commitment to increasing accessibility and
affordability for housing in the United
States, Merchants Capital takes great strides to extend its
lending volume to numerous affordable project types including
preservation and new construction loans for 4%, 9%, Section 8,
public, supportive and mixed-income housing properties.
Merchants Capital New York is one of Merchants' six production
hubs nationwide, in addition to Chicago, Indianapolis, Saint
Paul, Washington, D.C. and
Boston, which opened in 2022.
Nationally, Merchants Capital provided over $8.9 billion in financing for a variety of
multifamily projects during 2022.
To learn more about Merchants Capital and its services, visit
www.merchantscapital.com or find Merchants Capital on
Facebook, Twitter, LinkedIn and Instagram.
ABOUT MERCHANTS BANCORP
Ranked as a top performing
U.S. public bank by S&P Global Market Intelligence, Merchants
Bancorp is a diversified bank holding company headquartered in
Carmel, Indiana operating multiple
segments, including Multi-family Mortgage Banking that offers
multi-family housing and healthcare facility financing and
servicing; Mortgage Warehousing that offers mortgage warehouse
financing; and Banking that offers retail and correspondent
residential mortgage banking, agricultural lending, and traditional
community banking. Merchants Bancorp, with $12.6 billion in assets and $10.1 billion in deposits as of December 31, 2022, conducts its business
primarily through its direct and indirect subsidiaries, Merchants
Bank of Indiana, Merchants Capital
Corp., Merchants Capital Investments, LLC, Merchants Capital
Servicing, LLC, Merchants Asset Management, LLC, Farmers-Merchants
Bank of Illinois, and Merchants
Mortgage, a division of Merchants Bank of Indiana. For more information and financial
data, please visit Merchants' Investor Relations page at
investors.merchantsbancorp.com.
ABOUT MERCHANTS CAPITAL
Established in 1990, Merchants
Capital is one of the nation's top lenders for the refinance,
acquisition, new construction and substantial rehabilitation of
multifamily, affordable, and senior housing. Whether you are
considering tax credit syndication, Freddie Mac, Fannie Mae,
HUD/FHA insured or balance sheet financing, let our personalized
services help you meet your financing objectives. Experience the
creativity of a small lender, with all the capabilities of a large
institution. To learn more about Merchants Capital,
visit www.merchantscapital.com.
Forward-Looking Statements
This press release contains
forward-looking statements which reflect management's current views
with respect to, among other things, future events and financial
performance. These statements are often, but not always, made
through the use of words or phrases such as "may," "might,"
"should," "could," "predict," "potential," "believe," "expect,"
"continue," "will," "anticipate," "seek," "estimate," "intend,"
"plan," "projection," "goal," "target," "outlook," "aim," "would,"
"annualized" and "outlook," or the negative version of those words
or other comparable words or phrases of a future or forward-looking
nature. These forward-looking statements are not historical facts,
and are based on current expectations, estimates and projections
about the industry, management's beliefs and certain assumptions
made by management, many of which, by their nature, are inherently
uncertain and beyond our control, such as the potential impacts of
the COVID-19 pandemic. Accordingly, management cautions that any
such forward-looking statements are not guarantees of future
performance and are subject to risks, assumptions, estimates and
uncertainties that are difficult to predict. Although the Company
believes that the expectations reflected in these forward-looking
statements are reasonable as of the date made, actual results may
prove to be materially different from the results expressed or
implied by the forward-looking statements. A number of
important factors could cause actual results to differ materially
from those indicated in these forward-looking statements, including
the impacts of the COVID-19 pandemic, such as the severity,
magnitude, duration and businesses' and governments' responses
thereto, on the Company's operations and personnel, and on activity
and demand across its businesses, and other factors identified in
"Risk Factors" or "Management's Discussion and Analysis of
Financial Condition and Results of Operations" in Merchants
Bancorp's Annual Report on Form 10-K and other periodic
filings with the Securities and Exchange Commission. Any
forward-looking statements presented herein are made only as of the
date of this press release, and the Company does not undertake any
obligation to update or revise any forward-looking statements to
reflect changes in assumptions, the occurrence of unanticipated
events, or otherwise.
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SOURCE Merchants Bancorp