Avila Real Estate Capital Secures $100M First Close for Second Debt Fund 

Avila Real Estate Capital (AREC), a leading private credit provider to the U.S. homebuilding sector, has completed the first closing of its second debt fund, securing approximately $100 million in investor commitments, including a lead investment from Hillwood. The fund, which is targeting $1 billion in total commitments, is scheduled to hold its final close on June 30, 2026. 

The new vehicle will continue AREC’s strategy of supplying flexible financing solutions to homebuilders nationwide—including project-level loans supporting land development and revolver lines funding vertical construction. 

“Our first fund demonstrated the strength and scalability of our lending model,” said Tony Avila, CEO of AREC. “Hillwood’s participation as a lead investor validates our approach, which blends strong collateral, short-duration exposure, and attractive yields in a sector with long-term, resilient demand.” 

AREC’s debut debt fund closed in July 2025 with more than $700 million in total commitments and co-investments from institutions, family offices, and high-net-worth investors. To date, the fund has supported the construction of over 10,000 new homes across the country. 

Headquartered outside San Francisco, AREC operates with a national footprint, with team members in Texas, Colorado, Georgia, Florida, New Jersey, New York, and Pennsylvania. Hillwood—founded by Ross Perot Jr.—is a privately held real estate and investment firm with extensive operations across the U.S. and Europe.