Merchants Capital Provides $99M in Debt, Tax Credit Equity for Indiana Workforce Housing Community

FORT WAYNE, IND. — Merchants Capital has provided more than $99 million in debt and tax credit equity financing for The Elex, a 296-unit workforce housing community now leasing in Fort Wayne. Developed by Biggs Group in partnership with Ancora, Weigand Construction and MSquared, The Elex is part of the Electric Works site, a redeveloped General Electric industrial campus that opened last month. Merchants Capital secured a $34.4 million Freddie Mac non-LIHTC forward permanent loan and provided $9