Sétanta Development Capital, a Charlotte, NC-based residential real estate financing provider, received $100M in credit facility from Victory Park Capital.
The company intends to use the funds to support its acquisition and development financing for residential land developers.
Led by CEO John Curry, Sétanta Development Capital provides development and acquisition loans for residential real estate throughout the United States. Loans range from $1 million to $80 million. It allows developers to purchase land and add horizontal improvements, including grading, utilities installation, and paving, before selling to homebuilders. The end products include single-family residences and townhomes.
Commenting on the news, John Curry said: “This financing will support our efforts to provide developer-friendly capital and, in the process, support the growth of the U.S. housing market.”
FinSMEs
17/04/2024