GREENVILLE, S.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, “Setanta’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.”
About Lima One Capital
Since its inception in 2011, Lima One Capital has funded over $4 billion in loans for real estate investors who are building, improving, and stabilizing neighborhoods across the nation. Lima One’s core loan products are New Construction loans for ground-up construction, in-fill, specs, and model homes; Fix and Flip, a 13-month bridge loan for investors who are buying, renovating, and selling properties; Rental property and portfolio loans for purchasing or refinancing residential rental properties; and Multifamily bridge lending for the purchase, rehab, or refinance of 5+ unit multifamily properties. For more information, visit limaone.com.
About Sétanta Development Capital
Launched in August 2020, Sétanta Development Capital provides land acquisition and development loans to developers across the country, focusing on affordable, attainable and rental housing. Headquartered in Charlotte, North Carolina, the management team has over 40 years of development experience, transacting in over 30 metro areas to date. Learn more at www.setantadc.com/.