Avila Real Estate Capital, which finances land acquisition, development and construction for homebuilders and land developers across the United States, has closed a $305 million credit facility with a master-planned community developer to fund the development and construction of more than 3,000 lots in California.
The facility is the second financing Avila has provided to the developer. The developer will draw on the new line to finance horizontal development and vertical construction. To support the facility, Avila secured co-investment from a network of international partners, including banks in Israel and Brazil, Middle Eastern family office capital and global alternative asset managers.
The value of new housing construction in the United States is more than half a trillion dollars annually, according to the U.S. Census Bureau, and persistent supply constraints continue to drive demand for credit across the land and lot development lifecycle. Entitlement and develop
