Meridian Investment’s 30-year history with over $6 billion in energy financings and $10 billion in low income housing financings has included many unique transaction structures and long-term financing programs for project sponsors.
- 1988: Meridian Investments developed the post K-1 investment tax payment system to help low income housing developers attract institutional investment in the LIHTC using this risk-sharing structure.
- 1991-Present: Meridian Investments has served as the exclusive placement agent for the Section 42 tax credit investment programs of three respected industry sponsors and has supported the construction of approximately $12 billion in multifamily and elderly affordable housing.
- 1992-1993: Meridian Investments pioneered the development of the first guaranteed yield tax credit products in a $225 million syndication sponsored by AIG-SunAmerica. This structure was instrumental in broadening the Section 42 tax credit marketplace to appeal to new institutional buyers.
- 1995: Meridian helped pioneer the secondary market for LIHTC investments and served as the long-term exclusive representative for a leading sponsor of Low Income Housing and Historic Preservation tax credits, and the second largest owner of multifamily housing in the United States.
- 1998: Meridian marketed $100 million of equity for the only affordable housing program offered with a yield guarantee by Fannie Mae.
- 2002: Meridian Investments raised capital to finance The Victor, a 341-unit multifamily luxury development along the Camden, NJ waterfront, using historic rehabilitation tax credit equity. This was followed in 2004 by an equity raise for Venice Lofts, a 128-unit waterfront multifamily development in Philadelphia, PA, also using historic rehabilitation tax credit equity.
Today, Meridian Investments serves as the placement agent for the WNC Companies, a leading sponsor of housing tax credit investments for more than 37 years, having financed over $4.3 billion in affordable multifamily rental properties, as well as First Sterling and R4 Capital, two other leading sponsors of affordable housing transactions.
Meridian is a founding board member of the Affordable Housing Tax Credit Coalition and subscribes to the best practices of this important industry group.