Lockhart 250 Acre Acquisition
65% LTC, 2+1 Year Term
StackSource recently arranged financing for a key piece of land consisting of 250 acres in Lockhart, Texas. The sponsor plans to entitle and develop the land for a 1,107 single family home community. The sponsor is building in this specific area is due to the critical shortage of housing and immediate need to bring build ready lots to builders in the area. StackSource Senior VP of Business Development, Beth Mercante, and Director Zach Wagner were able to secure this senior debt with a LTC of 65% and a 2+1 year term.