Dealmaker: Merchants Capital Secures $33.8M for Florida Veteran Community

(Image courtesy of Merchants Capital)

Merchants Capital, Carmel, Ind., announced more than $33.8 million for the construction and permanent financing of Village of Valor, an affordable housing community for veterans and their families in Palm Springs, Fla.

Merchants Capital secured a $6.5 million Freddie Mac Forward TEL permanent loan and a $15.8 million construction loan provided by Merchants Bank for the development. Merchants Capital also provided $11.5 million in low-income housing tax credit equity as the syndicator.

Village of Valor, developed by Turnstone Development and Faith Hope Love Charity, will provide 54 units. Half of those will be set aside for residents below 50% area median income, and six will be set aside for residents with special needs. It will be designed as a community to support veterans and improve quality-of-life after military service.

“Village of Valor has been thoughtfully designed to provide affordable housing, accommodate military families with larger apartments and foster community inherent among veterans,” said Josh Reed, executive vice president of LIHTC Acquisitions at Merchants Capital.

Construction began in April 2026 and is expected to be completed in 18 months.