Actively selling homes in Charleston in foreclosure transactions valued at $412 million

Builder Capital and 400 Capital Management LLC have finalized a land banking agreement with Dream Finders Homes, acquiring more than 4,000 residential lots in Charleston, Greenville and Nashville. (Photo/Deposit Photos)

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The $412 million transaction occurred in connection with DFH’s acquisition of Cresent Homes’ core homebuilding assets and will enhance DFH’s ability to deliver affordable housing products to these supply-constrained markets, the release said.

“We are pleased to complete this transaction and acquire an outstanding portfolio of large-scale homes,” Bill Southworth, managing partner at Builder Capital, said in the release. “This transaction demonstrates our ability to meet the needs of our homebuilding partners, in this case a repeat customer.”

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The acquired housing sites, which include more than 25 active selling communities, will serve entry-level buyers as well as first- and second-time homebuyers, with pre-built homes starting in the low $300,000s, according to the release.

“With the closing of this transaction, our strategic partnership with Builder Capital has grown to over 11,250 lots of inventory and over $1.4 billion in total project cost,” Chris Schiavone, head of private credit strategy at 400 Capital Management, said in the release. “Builder Capital and 400 Capital have positioned themselves as leading providers of acquisition capital and development solutions in the residential market, as evidenced by this large and important transaction.”

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