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Victory Park Capital Closes $100MM Credit Facility for Sétanta Development Capital

April 18, 2024, 08:00 AM
Filed Under: Lender Finance

Victory Park Capital (“VPC”) closed a $100 million credit facility with Sétanta Development Capital (“Sétanta”), a Charlotte-based residential real estate financing provider. The transaction will support Sétanta’s acquisition and development financing for residential land developers.

“We are excited to be partnering with Victory Park Capital,” said John Curry, Sétanta’s CEO. “This financing will support our efforts to provide developer-friendly capital and, in the process, support the growth of the U.S. housing market.”

Founded in 2020, Sétanta provides financing for residential developments near high-growth markets, with a current focus on the Southeast. Sétanta’s financing allows developers to purchase land and add horizontal improvements, including grading, utilities installation, and paving, before selling to homebuilders. The end products include single-family residences and townhomes that help meet the market’s need for affordable and attainable housing.

“Sétanta is filling an unmet need in the industry,” said Connell Hasten, Partner at VPC. “There is a shortage of capital available to developers, and we believe strongly in Sétanta’s mission to provide accessible acquisition and development financing.”

“Sétanta has an experienced management team, longstanding developer relationships, and a robust underwriting process,” said Joshua Platek, Principal at VPC. “We look forward to supporting the team at Sétanta as they continue fulfilling the unmet capital needs of developers in high-growth markets across the United States.”

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