We recently participated in a $8.8 MM land refinancing for LD&D, a highly talented and specialized development firm, for the refinancing of their Domo Cass Sq project in Tampa, FL; a 360 units and retail project in a prime location in Tampa.
Most lenders do not like land loans. The asset is not income producing and it is difficult to understand it for most purely finance oriented shops. At Brora Capital we understand the nut and bolts of our developer clients business. We are comfortable understanding and underwriting complex business cases, where many traditional lenders would traditionally shy away from.
Brora Capital excels at land acqusitions and pre-development loans, as well as refinaning of pre-development assets. We look forward to working with other highly talented sponsors in the near future and asisst with efficient capital for financing.