The Sponsor engaged LFB Ventures to source and structure the recapitalization of their mid-construction 55-unit for-sale Project located in Hayward, CA.

The Sponsor had previously acquired the property at an extremely favorable land basis and processed all discretionary entitlement approvals. After commencing construction with another lender, covid-era supply chain delays and market-driven sales headwinds created a scenario in which the best solution was to reset the capital stack with a new lender providing enough term to allow the Sponsor to complete construction and runway for all unit sales.

Once the Lender was selected for this Project, LFB assisted with Term Sheet negotiation and navigating lender Due Diligence to satisfy closing conditions.

LFB is actively engaged with capital providers seeking to deploy traditional and high-leverage debt into well-located projects with seasoned developers and builders throughout the country.