SEATTLE, Oct. 26, 2020 /PRNewswire/ -- Seattle-based
Builders Capital, the nation's leading private construction lender,
announced today that it entered into a $500
million, revolving, multi-year capital agreement with a
major life insurance company.
Builders Capital offers a full suite of construction loan
products, with a particular focus on ground-up construction. Since
its formation in 2009, Builders Capital has closed over 2,100
loans, across a dozen states. Currently, Builders Capital is
servicing nearly $700M in loans, has
a robust and growing pipeline of new opportunities in excess of
$300M spanning the country to
qualified builders, and expects to have a record year in 2020.
"We are bullish on the prospects for home building and home
building finance for the foreseeable future," said Curt Altig, Founder and Chairman of Builders
Capital. "We target markets with supply and demand imbalances and
the builders we serve in those markets see the same demographic
tailwinds that we see: rising demand for single-family housing and
supply that simply hasn't kept up."
Added Robert Trent, CEO of
Builders Capital: "Demand for Builders Capital's innovative and
customized loan products has never been higher. This new facility
will provide us with additional liquidity to grow our relationships
with our existing customers while expanding to reach new customers.
We strive to be the builders' most valued relationship in every
market we serve."
The company differentiates itself not only by focusing on
ground-up construction but also by servicing its own loans rather
than outsourcing to third parties. The company has developed a
proprietary loan servicing software platform that streamlines the
customer experience, from origination, through draws, inspections,
and payoffs.
Builders Capital was advised in this transaction by Saluda Grade, a premier private alternative real
estate advisory and asset management firm. "Saluda Grade's singular focus on the alternative
lending sector has been a tremendous asset to our company," said
Altig.
About Builders Capital
Builders Capital is one of the nation's largest private
construction lenders, offering innovative financing solutions to a
wide spectrum of developers and homebuilders, from bridge,
fix-and-flip and ground-up construction, to development and
attached housing. The Company maintains offices in Seattle and Puyallup, Washington, with sales offices in
Boise, Denver, Colorado Springs, Vancouver, Phoenix and Orlando. Builders Capital's management team
brings over 100 years of expertise in residential construction
lending, home building, real estate development, and loan
servicing.
About Saluda Grade
Founded in 2019, Saluda Grade is a
boutique real estate advisory and asset management firm focused on
the alternative "non-bank" lending sector. Saluda Grade Advisory
advises small to mid-sized lenders seeking institutional capital
markets expertise and delivering institutional capital to private
lenders. Saluda Grade Ventures, the firm's equity investment arm,
currently manages two private funds. Saluda Grade Asset Management
manages debt funds investing in transitional mortgage loans and
distressed securitized product assets.
With offices in New York and
San Francisco, the company is
driven by a core mission to identify alternative lending sectors
needing institutional capital to fuel growth.
For Press Inquiries
Contact: Robert Trent
RTrent@Builders-Capital.com
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SOURCE Builders Capital