NEW YORK CITY — Merchants Capital has provided $225 million in Freddie Mac financing for seven affordable housing properties in The Bronx. The properties comprise 18 buildings and 983 units that carry a range of income restrictions. The borrower is a joint venture between The Arker Cos., SBV RE Investments LLC and Dabar Development Partners. Proceeds will be used 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.
Merchants Capital Provides $225M in Agency Financing for Bronx Affordable Housing Properties