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Merchants Capital Secures Debt, Equity Financing for 200-Unit Workforce Housing Project in Michigan
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Merchants Capital Secures Debt, Equity Financing for 200-Unit Workforce Housing Project in Michigan
WYOMING, MICH. — Merchants Capital has secured $74.1 million in debt and $16.7 million in low-income housing tax credit (LIHTC) equity financing for HōM Flats at 28 West Phase 3, a mixed-income workforce housing development in Wyoming near Grand Rapids. Magnus Capital Partners is the developer. Merchants Capital arranged a $30.6 million Freddie Mac 4 percent unfunded forward tax-exempt loan, $16.7 million in 4 percent LIHTC equity financing and …
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