DENVER, Co. August 11, 2020 — Builder Capital, LLC announced today a land banking arrangement with Lokal Homes consisting of 198 lots in Denver, Colorado. 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 to produce homes for American consumers at attainable price points.
Lokal Homes will purchase and develop the lots financed by Builder Capital on a rolling basis. This infill Denver community is located just northeast of the intersection of Evans Avenue and Holly Street, and will be called The Hub at Virginia Village. The Hub at Virginia Village offers close proximity to Downtown Denver, The Denver Tech Center (DTC), shopping, dining and numerous outdoor recreational attractions.
“This is the second transaction between Lokal Homes and Builder Capital in the 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 for Lokal. “Lokal is excited to continue our relationship with the established and dependable lot banking program Builder Capital has created.”
“Builder Capital is pleased to enhance its footprint in the western region of the US with a great builder like Lokal Homes and is honored 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.
The entity transacting with Lokal Homes is an affiliate of Builder Capital, Colorado 198 E&H KRF, LLC.
