DENVER, Co.–Builder Capital, LLC announced today a land banking arrangement with Lokal Homes consisting of 425 lots in the Colorado cities of Aurora, Commerce City and Colorado Springs. Builder Capital, in partnership with affiliates of 400 Capital Management , acquired the portfolio of lots as part of an ongoing strategy to provide capital to production homebuilders for the acquisition and development of single family residential lots nationwide.
The portfolio consists of condominiums, townhomes and single-family lots with half being unfinished lots and half being finished lots. Lokal Homes will develop the lots from Builder Capital on a rolling basis across four highly desirable locations. In Aurora, CO the Brookhaven and Sorrel Ranch projects are condominium communities attractive to consumers seeking quality new homes at attainable price points in the market. The Buffalo Run project in Commerce City, CO consists of single-family homes showcasing modern floorplans and offering upgraded option selections. The District at Victory Ridge in Colorado Springs will include attached townhomes that offer close proximity to shopping, dining and numerous outdoor recreation attractions.
“This partnership is a great example of Lokal Homes’ continued pursuit of land opportunities in desirable locations where Colorado consumers continue to strive to realize home ownership,” said Slade Nelson, Vice President of Land. “The team at Builder Capital has established a dependable lot banking program and we’re excited to be partnered with them as we continue to grow throughout the Denver Front Range.”
“Builder Capital is thrilled to start a partnership in the growing Western region of the US with a quality builder such as Lokal Homes and delighted to be part of Lokal’s continual growth in the state of Colorado. Builder Capital is actively looking for new land acquisition opportunities nationwide,” said Bill Southworth, Managing Director of Builder Capital.
About Builder Capital, LLC
Builder Capital was formed in 2017. Builder Capital’s mission is to provide capital for finished lot inventory to production homebuilders. The Builder Capital team has established relationships with production homebuilders throughout the U.S. and over the last 25 years has provided over $1 billion in funding for the acquisition and development of more than 22,000 residential lots across 200 projects.
About 400 Capital Management
400 Capital Management, founded in 2008, is a structured credit asset management firm offering qualified investors access to a broad range of investment opportunities and innovative solutions across global structured credit markets. The Firm offers investors access to structured and private credit strategies across its fund and separately managed account platform, including multi-sector and single-sector investment strategies, enabling investors to take advantage of the wide range of risk and return profiles available within the credit markets. The Firm’s funds and separate accounts are managed for a global investor base, which includes without limitation, U.S. and non U.S. public and private pension plans, endowments, foundations, insurance groups, family offices, qualified high net worth individuals and consultants. 400CM and its affiliates employ 41 people, with offices located in New York City and London, and currently manages over $2.6 billion. The Firm is registered with the U.S. Securities and Exchange Commission as an investment adviser.
About Lokal Homes
Lokal Homes is a Colorado-based homebuilder focused on building Condomium, Townhome and Single Family Detached housing throughout the front range. Lokal began from a vision created by David Lemnah and Ryan Lantz, where the standard features, excellent customer service and quality building would set them apart from the large public home builders. “Denver is controlled by big-box builders, so we wanted to be the local choice,” said Lokal Co-Owner David Lemnah. Their name Lokal Homes was established with these high aspirations in mind and have grown to be one of the Denver’s largest private home builders. Lokal is ranked as the 147th largest builder Nationally and has closed over 800 homes in communities throughout the Colorado front range. For more information on Lokal Homes, please visit their website at www.lokalhomes.com or call (720) 656-4512.
