Merchants Capital Provides $225 Million in Agency Financing for Affordable Housing Portfolio in New York City

NEW YORK CITY — Merchants Capital has provided $225 million in Freddie Mac financing for seven affordable housing properties in the New York City borough of The Bronx. The portfolio comprises 983 units across 18 buildings. The properties carry a range of income restrictions. The borrower is a joint venture consisting of The Arker Cos., SBV RE Investments LLC and Dabar Development Partners. The joint venture will use the financing to refinance existing debt, rehabilitate units with building-wide improvement plans and preserve affordability. The scope of work includes kitchen upgrades, plumbing improvements and common area maintenance. Completion is slated for September 2025