LFB Ventures

Happy Thanksgiving from the LFB team. We are thankful for our clients, capital partners, and peers. Enjoy your families and a few slow days ahead.

Recent Closing | $27,216,000 Financing Refinance of Two Subdivisions Totaling 339 SFR Lots Boise, ID The LFB team was engaged by a repeat client to complete the refinance of two subdivisions in the larger Boise MSA, totaling 339 single family residential lots. The financing recapped the underlying acquisition loan and provided our client with a runway to perfect the entitlements prior to obtaining construction financing. The two projects are made up of several product segments, with one project consisting of 99 lots and the other 240 lots. The LFB team will be structuring the senior construction debt upon the perfection of entitlements and building permit approval. Our team is structuring land and land development financing nationwide on housing projects. Please reach out with any opportunities. We are actively building up our pipeline for Q1 2025. #LFB #LFBventures #land #landdevelopment #financing #debt #equity #capitaladvisor #structuredfinance #idaho #boise

Recent Closing | $10,465,000 Financing Construction Financing for Phase 1 of a 57-Unit Community Kuna, ID The LFB team was approached by a repeat borrower who was looking to finance the construction of the first 27 units within a 57-unit townhome project in Kuna, Idaho. Kuna is a city within Ada County and is part of the larger Boise statistical area. It is currently one of the fastest growing areas in Idaho. At time of financing, the project was fully approved, had most of the site development work completed, with streets in place and utilities stubbed to curb. The project offers three different floor plans with an average home size of 1,154 square feet. Given the growing demand in the area and lack of supply, the price averaging in the mid $400s will allow our client to come out of the gate with a large number of starts to capture pent up demand and decrease the amount of time it takes to build through the community. #LFB #LFBventures #idaho #financing #construction #debt #equity #development #realestate #kuna

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