LFB was engaged by a repeat client to arrange financing to recapitalize an existing land loan and cover all go-forward horizonal development costs to bring the community to a finished lot condition.

The project sits within the larger Spring Lake Specific Plan which covers roughly 1,100 acres and over 4,000 homes. The master plan is mostly built out, with public homebuilder activity immediately adjacent to the subject property.

The total project site is 25 acres, with lot sizes ranging in size from 6,500 to 13,000 square feet. At time of funding, the project was fully entitled and ready to begin site work.

LFB is actively working with this Sponsor on multiple other residential communities across western Unites Sates.