Farcaster

Working on a $70M ground-up condo development on the West Coast.

Sponsor’s been sitting on the land for 2+ years and now wants to go vertical — but with ~80% LTC and aggressive pricing.

Tough ask in this market. But here’s how we’re structuring it:

Option 1: ~80% LTC, higher cost, tighter structure
Option 2: ~75% LTC, better pricing, smoother terms
Option 3: ~70% LTC, lowest cost, no exit fee

Each one has trade-offs.
The key? Structuring the capital stack to fit the actual business plan.

If you’ve worked on creative financing for ground-up deals (or seen a wild capital stack lately), I’d love to hear about it.