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Alternative Assets  + Real Estate  |  April 18, 2024
Sétanta Receives $100M Credit Facility for Residential Land Developers
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 for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.