CHICAGO--(BUSINESS WIRE)--Victory Park Capital (“VPC”), a global alternative investment firm specializing in private credit, today announced that it has 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.”
About Victory Park Capital Advisors, LLC
Victory Park Capital Advisors, LLC is an SEC-registered, established credit manager. The Firm was founded in 2007 and is headquartered in Chicago, Illinois, with additional resources in New York, Los Angeles, San Francisco, and London. VPC provides custom financing solutions across the private capital spectrum, focusing on companies with strong corporate governance and a compelling growth trajectory. VPC invests in emerging and established businesses across various industries worldwide. For more information, please visit www.victoryparkcapital.com.
About Sétanta
Sétanta Development Capital provides development and acquisition loans for residential real estate throughout the United States. Loans range from $1 million to $80 million, with an average closing time of less than 60 days. Sétanta was formed to address the lack of available and accessible land financing to developers. For more information, please visit www.setantadc.com.
