Capital Source of the Week - Single Family Debt and Equity Source

Nebo has identified a capital provider focused on single family residential development and construction that is backed by a large hedge fund and has a strong appetite to deploy capital through both debt and equity platforms.
On the debt side they’ll provide funds for SFR construction and will lend on acquisition and development for SFR as long as they also provide the construction dollars.  They’ll also lend on land under contract to be sold to a builder if there's at least a tentative map on the dirt at the time of loan closing.  Cost of debt is 8-11% with 0.5-2pts at close.  Loan sizes of $8-40M, up to 85% Loan-to-Cost.
On the equity side they will joint venture and provide funds for option payments and entitlement costs if there is a clear and short path to entitlement.  Equity investments of $2-10M.
This capital source will look at deals nationally but has a preference for the Western US.  They can move very quickly for the right deal.  We recently presented them a debt opportunity and they provided a term sheet in one day with a targeted close nine days later.
Please feel free to reach out to us if you have a deal that you'd like to discuss.