LFB Ventures

Recent Closing | $8,326,000 Financing Vertical Construction Loan for 17 Single Family Homes Covington, GA   The LFB team was approached by a repeat client who was seeking financing to retire a maturing development loan and fund the vertical construction of 17 homes in Covington, GA. The sponsor completed all development work on 118 single family lots in the subdivision and was ready to record the plat map and start construction on the first phase. LFB provided the sponsor with a 56% LTV construction loan that paid off the existing debt, reimbursed the borrower for over $1.0M in development costs spent to date, and provided enough future proceeds to build out the first 17 homes of the project. LFB will also provide additional financing to complete the remaining project on a rolling, phased basis. The project will offer two different floor plans ranging from 1,800-2,200 SF and the average sales price will be about $340K per home. The sponsor’s development and construction experience, excellent track record, and along with the affordable price point of the homes made this loan a great candidate for LFB’s construction program. LFB Ventures will continue to provide financing for land, development, and vertical construction for developers and homebuilders nationwide. Please reach out with any financing needs. #LFB #LFBventures #financing #construction #land #housing #capital #atlanta #development

Recent Closing | $18,915,000 Financing AD&C Loan for Phase 1 of a 139-lot subdivision Meridian, ID The LFB team was engaged by a repeat client bringing high-quality for-sale residential projects to communities across the Mountain West Region, to finance the development and construction of several projects. The subject Project is comprised of a 139-lot subdivision in a final map ready-to-record condition that will target move-up buyers in the Meridian and Eagle sub-markets of Boise. The Project is part of the existing Orchard Park mixed-use masterplan and will offer luxury finishes paired with neighborhood amenities including a newly constructed City library, neighborhood serving retail and grocery, as well as an amenity center specifically reserved for Orchard Park residents. This Project represents one of the only opportunities in the greater Boise MSA for school-aged residents to walk to elementary, middle, and high school. LFB is actively building a programmatic relationship with capital around this Sponsor for the acquisition and build-out of their extensive pipeline of future communities. #LFB #LFBventures #debt #equity #construction #lending #finance #development #land #idaho #boise

Recent Closing | $24,750,000 Financing   Recapitalization of an A&D Loan for a 2,300+ unit Master Plan Lake County, FL  The LFB team was engaged by a private equity group which provides acquisition and development financing to small and medium size real estate developers across the United States, to assist their efforts to restructure an existing first position note they hold for a 2,300+ unit master planned community located in Lake County, FL. The engagement entailed structuring a note participation with fresh equity contributed by a source secured by LFB, creating immediate liquidity for the private equity group while still capturing maximum upside upon future exit from the project.  The subject property is comprised of nearly 40 tax parcels covering approximately 700 acres and is currently entitled for 1,500+ single family homes and 800+ multifamily units.  The expansive project, once developed, will bring much needed affordably priced housing to the Lake County, FL area and will provide homebuilders in the region with ample opportunities to secure new land positions in a highly desirable sub-market.  LFB is actively advising acquisition, development, and construction lenders on the sale and restructure of their existing loans and portfolio of loans. #LFB #LFBventures #masterplan #financing #noteonnote #recap #housing #land #development #structuredfinance #construction

Recent Closing | $9,450,000 Financing Acquisition & Predevelopment Loan for a 386-unit Community Palm Springs, CA The LFB team was engaged by a repeat client to secure acquisition and predevelopment financing for a 386-unit residential community in Palm Springs, CA. At time of closing, the property had an approved tentative map and development agreement, but needed to complete final engineering prior to commencing lot dispositions. The property, previously the Palm Springs Country Club, is a defunct golf course that was originally developed back in the 1950’s. Prior to closing, our client and the seller perfected the entitlements with the execution of an updated Development Agreement. LFB continues to work with this client on the acquisition and development of master planned communities through California. #LFB #LFBventures #capital #debt #equity #advisors #palmsprings #masterplan #residential #community #development #BTR #homebuilding

We are pleased to announce the addition of Rory O'Connor to the LFB Ventures team. Rory joins us as a Director in our New York office, alongside Jeremy Michaelson. Rory comes most recently from Lee & Associates, and before that was with Douglas Elliman Commercial, Uptown Realty Group, Artemis, and Onyx Equities. Welcome to the team, Rory. We are excited for the impact you will make on LFB's east coast growth. #LFB #LFBventures #newhire #growth #eastcoast #newyork #capital #debt #equity

Recent Closing | $28,690,000 Financing Acquisition, Development, & Construction Loan for 82 Luxury Homes Rancho Mirage, CA Our team was engaged by a repeat client bringing high-quality for-sale residential projects to communities across the Mountain West Region, to finance the development and construction of several projects. The subject project, comprised of an 82-lot subdivision in a final map ready-to-record condition, will target luxury move-up buyers in the Coachella Valley. The project will offer high-end finishes paired with neighborhood amenities including a pickleball court, basketball, and dog park with residential lots ranging in size from 9,000 SF up to 17,500 SF. LFB is actively building a programmatic relationship with capital around this Sponsor for the acquisition and build out of their extensive pipeline of future communities. #LFB #LFBventures #financing #capital #homebuilder #ranchomirage #palmsprings #development #construction #land

Recent Closing | $21,995,524 Financing  Development & Construction Loan for 82 BTR Homes Bluffton, SC   LFB was approached by a growing development team, bringing high-quality build-for-rent projects to multiple communities in the Southeast, to finance their development and construction of several projects. This subject project represents the group’s second build-for-rent community and will feature 82, three-bedroom townhomes. Targeting “renter by choice” tenants, the project offers high-end finishes paired with a full set of premium amenities, including a clubhouse with co-working and lounge space, a fitness center and outdoor yoga studio, a large dog park, and a putting/chipping green. The site’s size allowed the developer to balance the significant amenity package with acres of green space. The project was fully zoned and entitled when presented to our team. LFB is actively building a programmatic relationship with capital around this sponsor for the build out of their extensive portfolio. #LFB #LFBventures #BTR #BFR #southeast #financing #development #land #construction #rent #homebuilder #southcarolina

Recent Closing | $11,642,725 Financing Recapitalization & Funding for Remaining 36 Homes Valley Center, CA A repeat borrower approached LFB with a request to recapitalize their existing project and complete the remaining 36 single family homes. This project represented the affordability component of a 623-unit master planned community in northeast San Diego County. The sponsors had already completed and sold the first 16 units in phase 1, but were in need of vertical construction financing to complete phases 2 and 3. LFB Ventures was able to provide the sponsors with a $11,642,725 loan to retire the existing construction debt and fund the remaining construction costs for 36 homes. LFB was also able to navigate complex title issues since construction had already begun. Additionally, LFB was able to re-negotiate a subordination agreement with a current junior lender. The project will offer 3 bed/2.5 bath units with an average home size of 1,450 square feet. The units will be offered to new owners who qualify at 80%-120% of the area median income. #LFB #LFBventures #capital #debt #equity #construction #financing #land #housing #sandiego #masterplan #affordablehousing

Recent Closing | $8,417,000 Financing Cash-out Construction Completion Seattle, WA LFB was engaged by a new borrower to recapitalize a 9-Unit, for-sale townhome project in Seattle, Washington. At time of funding, the project was already owned, 60% of construction had been completed, but underlying construction loan was set to mature due to delays. Based on the borrower’s strategic acquisition and value creation during life of ownership, LFB was able to get the owner cash out of the project as well as refinance the project at a 9.5% rate. The project consists of 9 townhomes with each townhome averaging 1,800 square feet. We continue to secure land, land development, and vertical construction financing for homebuilders and developers nationwide. We are also active in workouts, construction completion, and note sales. Please reach out with any financing needs. #LFB #LFBventures #construction #financing #debt #equity #refinance

Recent Closing | $9,031,095 Financing Construction Loan for 27-unit BTR Community Kuna, ID   LFB Ventures was approached by a repeat client who needed development and construction financing to complete a 27-home single family BTR community in Kuna, ID. With the property already owned, and site work ready to commence, LFB was able to act quickly and complete the financing with no additional equity required by borrower.   The project consists of 27 single family homes that will be built, leased, and stabilized before being refinanced into long term debt. The community will offer one and two-story homes, with square footage ranging from 1,500 to 2,200 square feet and 3 and 4-bedroom floorplans. #LFB #LFBventures #buildtorent #idaho #debt #equity #construction #financing #development