LFB was engaged by a repeat client to arrange acquisition and development financing for a 140-lot master planned community in Surf City, NC. At time of financing, the project was pre-sold to a public homebuilder.

The project covers 82 acres and offers 4 different floorplans on 70’ wide home sites. With a rolling takedown structure, the lots will be absorbed by the public homebuilder over the life of the land facility.

The financing was non-recourse, and the builder deposit was used as additional source of equity at closing.

LFB is actively building a programmatic relationship with capital for this client so they can continue acquiring and developing their extensive pipeline of roughly 2,000 lots in the southeast.