NAPA VALLEY, CA – Lima One Capital recently closed a $23.8 million loan to fund construction of 15 high-end homes in an infill development in Wine Country.
A renowned Bay Area builder with decades of experience in the area came to Lima One for funds to develop new homes on a 5.8-acre in-town lot in Napa County, California. Based on the quality of the sponsors and the uniqueness of the opportunity, Lima One provided a ground-up construction loan for all 15 homes in the development. Lima One’s top originator, Josh Schwartz, had funded loans for the builders before and brought the opportunity to the company.
“Wine Country is a highly desirable area to live thanks to wineries, spas, hiking trails, and more, but it has very limited new home inventory,” Schwartz said. “We saw this as a rare opportunity we wanted to partner on.”
Lima One’s strategic accounts team, construction management experts, and credit review committee thoroughly vetted the deal to ensure it was soundly underwritten. Lima One completed this process in three months, ensuring that the loan closed as soon as the builders had all the municipal approvals needed to put shovels in the ground.
“Our goal is to be the lender of choice for all of the top builders across the country.” Lima One Capital President and CEO Josh Woodward said. “I very much enjoyed spending time with this incredible team and visiting this wonderful site, and we look forward to seeing these properties come to life.”
The homes will be available in three different models. They are scheduled to be complete and available to the market in 2027.