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Builder Capital and 400 Capital Management Announce Land Banking Arrangement with Lokal Homes in Denver, Colorado

August 12, 2020

Builder Capital and 400 Capital Management Announce Land Banking Arrangement with Lokal Homes in Denver, Colorado

DENVER--(BUSINESS WIRE)--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.

About Builder Capital, LLC

Builder Capital was formed in 2017. Builder Capital’s mission is to provide capital for finished lot inventory to production homebuilders. The Builder Capital team has established relationships with production homebuilders throughout the U.S. and over the last 25 years has provided over $1 billion in funding for the acquisition and development of more than 23,000 residential lots across 225 projects.

About 400 Capital Management

400 Capital Management, founded in 2008, is an alternative credit asset manager offering qualified investors access to a broad range of investment opportunities and innovative solutions across global structured credit markets. The Firm offers investors access to structured and private credit strategies across its fund and separately managed account platform, including multi-sector and single-sector investment strategies, enabling investors to take advantage of the wide range of risk and return profiles available within the credit markets. The Firm’s funds and separate accounts are managed for a global investor base, which includes without limitation, U.S. and non U.S. public and private pension plans, endowments, foundations, insurance groups, and consultants. 400CM and its affiliates employ 49 people, with offices in New York City and London, and currently manage $4 billion. The Firm is registered with the U.S. Securities and Exchange Commission as an investment adviser.

About Lokal Homes

Lokal Homes is a Colorado-based homebuilder focused on building Condominium, Townhome and Single Family Detached housing throughout the front range. Lokal began from a vision created by David Lemnah and Ryan Lantz, where the standard features, excellent customer service and quality building would set them apart from the large public home builders. “Denver is controlled by big-box builders, so we wanted to be the local choice,” said Lokal Co-Owner David Lemnah. Their name Lokal Homes was established with these high aspirations in mind and have grown to be one of the Denver’s largest private home builders. Lokal is ranked as the 130th largest builder nationally and has closed over 1,000 homes in communities throughout the Colorado front range. For more information on Lokal Homes, please visit their website at www.lokalhomes.com or call (720) 656-4512.

https://www.businesswire.com/news/home/20200811005859/en/Builder-Capital-400-Capital-Management-Announce-Land