Merchants Capital, a regional bank, has successfully completed its fourth Freddie Mac-sponsored Q-Series transaction worth $303 million. The securitization included 11 multifamily housing loans ranging from $4 million to $62 million and was used for the acquisition or refinance of properties in eight states. These properties mainly consist of workforce housing developments with a significant number of units catering to individuals earning less than 80% of the area median income.
According to Evan Gibson, Senior Vice President and Head of Capital Markets at Merchants Capital, this accomplishment showcases their strength and performance as a regional bank during these uncertain financial times. Despite the downturn in commercial real estate (CRE) securitizations this year, Merchants continues to complete complex transactions responsibly by providing financing for affordable housing projects. This successful partnership with Freddie Mac has resulted in nationwide securitizations totaling $1.1 billion over the past two and a half years.
