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Alternative Assets  + Real Estate  |  April 18, 2024
Sétanta Receives $100M Credit Facility for Residential Land Developers
Joe Palmisano
By: Joe Palmisano

Sétanta Receives $100M Credit Facility for Residential Land Developers

Sétanta Development Capital, a Charlotte, NC-based residential real estate financing provider, received $100M in credit facility from Victory Park Capital (VPC).

The company intends to use the funds to support its acquisition and development financing for residential land developers.

“This financing will support our efforts to provide developer-friendly capital and, in the process, support the growth of the U.S. housing market,” said John Curry, Sétanta CEO.

Founded in 2020, Sétanta provides development and acquisition loans for residential real estate, with a current focus on the Southeast. Loans range from $1 million to $80 million. It 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.

“Sétanta is filling an unmet need in the industry,” added 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.”

Founded in 2007, VPC is a Chicago-based global alternative investment firm specializing in private credit.

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Sétanta Development CapitalVictory Park Capital

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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