Lima One Capital and Sétanta Development Capital Announce Formation of Strategic Alliance to Better Serve Home Builders and Developers Across the Country
Charlotte, N.C.— Lima One Capital and Sétanta Development Capital, two leading residential real estate finance companies, announced today the formation of a strategic alliance through a joint marketing arrangement under which they will provide much needed alternative financing options for residential real estate builders and developers.
Lima One Capital, which provides financing for residential real estate investors and home builders across the country, is one of the fastest growing private lenders in the industry. Sétanta Development Capital, which provides acquisition and development (A&D) financing for residential land developers, is national in its footprint and entrepreneurial in its outlook. The Sétanta platform is designed specifically to address the needs of land developers and remove many of the headaches and obstacles typically found in land financing.
Commenting on the new relationship, Josh Craig, Lima One’s Chief Revenue Officer, stated, “We are excited about this newly formed alliance with Sétanta. It will provide significant benefit to home builders and developers across the country by bridging the under-served gap between acquisition and development financing and new construction financing. Through this partnership with Sétanta, our builder and developer clients will benefit from having a reputable and proven A&D lender to support the completion of the horizontal land development, before bringing in our team at Lima One to assist them with the vertical construction and any rental loan needs.”
John Curry, Sétanta’s Chief Executive Officer, commented, “Sétanta’s founders have many years of hands-on development experience, and to that end we see ourselves as developers who lend as opposed to lenders trying to understand land development. We wanted to create a platform that would have excited us when we were in the development business, and we see this alliance with Lima One Capital as continuing that goal.”
Sétanta Development Capital Completes a Successful Year of Land Development Loan Origination with a Record Fourth Quarter
Charlotte, N.C.— Sétanta Development Capital, a Charlotte based residential real estate finance company, announced today that it had originated nine loans totaling over $150 million during the fourth quarter. This more than doubles the number of loans originated during the previous quarter.
Sétanta, which provides acquisition and development (A&D) financing for residential land developers, is national in its footprint. Loans originated during the quarter include an $11 million loan in Houston, TX for entry level and affordable housing and a $6 million loan in Raleigh, NC for a build for rent community.
John Curry, Sétanta’s Chief Executive Officer, commented, “We know from our experience developing communities that there is a deep need for smart, developer-friendly capital, and we are delighted to have worked with so many high quality developer groups over the course of this year. We have a great team and product here at Sétanta, which is a combination the market clearly responds well to. We can already project that the first quarter of 2022 will exceed this quarter’s activity, and we expect to continue to build from there.”
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Sétanta CEO on Real Estate of Things Podcast
Sétanta Development Capital's CEO, John Curry, joined Dalton Elliott at Lima One Capital to discuss land development, how Sétanta helps developers and home builders around the country finance their projects, and Irish whiskey.