Investor Relations
Fund 26
Fund 26 currently finances eight projects, creating 480 affordable homes across California. This fund has 11 investors.
Merritt works closely with mission-aligned investors and developers to create stronger communities where everyone can thrive. By partnering at every stage—from planning to long-term stewardship—we help ensure these homes provide stability, opportunity, and a place that residents are proud to call home.
“With Fund 26, we are proud to continue bringing together our developer and investor partners who enable the creation of communities where Californians can thrive. This fund will bring new and refreshed affordable housing units to high-cost, high-opportunity areas from the Bay Area to San Diego. Each of these communities will provide safe, stable housing to the most vulnerable of our neighbors who are often priced out of these regions.”
Second largest fund in 35 years
Fund 26 STATISTICS
In 2025, we financed 8 projects, creating 480 affordable homes for individuals and families. The fund included 11 existing investors.
For the 8 projects:
- 4 of 8 projects include senior housing (50%)
- 2 of the 8 projects are for families (25%)
- 3 of 8 projects include units for special needs populations (38%)
Of the 480 units:
- 27% of the units are permanent supportive housing
- 54% are for seniors
- 19% are for families
Income:
- 41% of units are for extremely low-income residents, earning at or below 30% of the average median income (AMI).
- 49% of units are for very low-income residents, households earning 31-50% of AMI.
Investors:
Bank of America
Bank of Hope
Bank of Marin
Bank of the Sierra
Banner Bank
BMO Bank, N.A.
California Bank & Trust, a division of Zions Bancorporation, N.A.
Cathay Bank
CIT, a division of First Citizens Bank
Citigroup Inc
City National Bank
Comerica, a division of Fifth Third Bank
Community West Bank
Columbia Bank
East West Bank
Enterprise Financial Services Corp
Exchange Bank
F&M Bank of Central California
First Republic Bank, now part of JP Morgan Chase
Freddie Mac
J.P. Morgan
KeyBank
Mechanics Bank
Banc of California
River City Bank
Silicon Valley Bank, a division of First Citizens Bank
Tri Counties Bank
Columbia Bank (formerly Umpqua and Pacific Premier)
U.S. Bank
Wells Fargo
Westamerica Bank
Western Alliance Bank
FINANCIALS*
Merritt continues to maintain a strong financial position, even in periods of uncertainty. We’re grateful this position enables us to have a widespread impact through our largest initiative, Commitment to Community (C2C), which provides scholarships, training, industry engagement, and other resources to equip our next generation of affordable housers so they can confidently navigate today’s affordable housing landscape. In addition, we can invest in new impactful programs, such as Merritt’s new Community Development Financial Institution.
*Please note: these are preliminary numbers and will be updated later in the year after our 2025 Audit is completed.
“Merritt’s secure financial position allows us to confidently invest in high-impact communities, support future affordable housing leaders and enable impactful policy through our C2C initiative, and build a new CDFI to further our mission, while maintaining a strong balance sheet to withstand unforeseen circumstances.”
