PRESS RELEASE UPDATED: APR 13, 2021
SEATTLE, April 13, 2021 (Newswire.com) – Builders Capital lived up to its name over the past six months, raising $750 million in capital, allowing the firm to meet homebuilders’ steady demand and be more competitive in the construction lending market.
The private construction lender announced today that it raised $250 million in March, in addition to $500 million raised in October 2020 from two capital partners. Builders Capital has originated over $275M loans within the first quarter of 2021, putting them on pace to originate well above their $1.5B annual goal.
“This investment provides not only additional capital that we can make available to our builder customers but also increases our competitive cost structure,” said Robert Trent, chief executive officer of Seattle-based Builders Capital.
“As our customers know, we seek to be the builder’s Most Valuable Relationship in all that we do. Offering the lowest possible pricing is a key part of our strategy to serve the nation’s homebuilders, and we are thrilled to have this additional source of capital available for our customers,” Trent added.
The capital raised helps increase the volume of originations, with all funds going back to borrowers for larger construction projects. The firm also continues to invest in and improve its technology, providing a better borrower experience and adapting its technology to industry needs.
Builders Capital was founded in 2009 with the goal of funding homebuilder growth, allowing builders to meet their goals and close gaps in the housing market. The firm sees potentially thousands of customers who need financial help to continue growing projects across the country.
To date, the firm has funded more than $2.5 billion in loans. In March, Builders Capital originated loans in Texas, Oregon, Washington, California, Pennsylvania, Idaho, Florida, North Carolina, South Carolina, Illinois, Montana, Colorado, and New Mexico, in projects ranging from $2 million to $25 million.
About Builders Capital
Builders Capital is one of the nation’s largest private construction lenders, offering innovative financing solutions to a wide spectrum of developers and homebuilders, from bridge, fix-and-flip and ground-up construction, to development and attached housing. The Company maintains offices in Seattle and Puyallup, Washington, with sales offices in Boise, Denver, Colorado Springs, Vancouver, Phoenix and Orlando. Builders Capital’s management team brings to the business over 100 years of expertise in residential construction lending, home building, real estate development, and loan servicing.