At a glance
- For allocators who fund homebuilders, Strata adds a sponsor-backed financing option at the land stage.
- The platform begins with projects covering about 1,300 single-family lots.
- Wafra, a New York-based global alternative investment manager, lists $29.0 billion in regulatory assets, 158 employees and 107 accounts in its Form ADV filing with the SEC.
Wafra and Hunt Cos. launched Strata Land Partners, a land finance platform that will provide capital to public and private homebuilders and developers across the US.
For allocators who fund homebuilders, Strata adds a sponsor-backed financing option at the land stage. Committed capital behind the platform was not disclosed. Key diligence questions are capital-stack position, advance rate against lot value and facility length relative to lot takedowns.
The platform begins with projects covering about 1,300 single-family lots. CEO Mike Forsum was most recently president and COO of Landsea Homes, a formerly publicly traded national homebuilder, according to IREI.
Wafra, a New York-based global alternative investment manager, lists $29.0 billion in regulatory assets, 158 employees and 107 accounts in its Form ADV filing with the SEC. Hunt Cos. is a privately held real estate and investment company.
Reported by the Real estate debt desk from IREI and Form ADV filings with the SEC (SEC IAPD). Published . Corrections