Värde Partners has formed a joint venture with David Weekley Homes to invest in land bank residential communities.

The land banking facility, provided by Värde, offers significant capacity to acquire and develop residential lots in high-demand U.S. markets, such as Atlanta; Charlotte, N.C.; Orlando; Phoenix; and Tampa, Fla. David Weekley Homes will manage the sourcing and land development.

The joint venture has closed on two projects in Phoenix, totaling more than $100 million of project costs, and expects to scale the partnership with a pipeline of deals projected to close during the coming months.

“We are pleased to formalize this new relationship with Värde, which will support our company’s growth goals and align with our longstanding asset-lite strategy,” says Heather Humphrey, CFO at David Weekley Homes. “The firm’s extensive experience investing in residential land development and reputation within the market made them a great partner for this