Curated News
By: NewsRamp Editorial Staff
October 09, 2025
Greysteel Secures $93M Loan for NC Master-Planned Community
TLDR
- Greysteel secured a $93 million construction loan providing developers with a competitive advantage in delivering 2,000+ residential lots with pre-contracted homebuilders.
- Greysteel structured a complex financing deal by refinancing legacy capital, upsizing the loan to 81% of project cost, and creating flexible terms for lot sales.
- This master-planned community development will create over 2,000 single-family homes, addressing housing needs and building sustainable neighborhoods in Brunswick County.
- Associate Landen Nix marked his first career closing with this landmark $93 million deal that unlocked a major North Carolina residential development project.
Impact - Why it Matters
This transaction demonstrates continued confidence in residential development markets despite higher interest rates and selective lending conditions. For homebuyers, it signals the coming availability of over 2,000 new single-family homes in Brunswick County, addressing housing supply constraints in a growing region. For developers and investors, it showcases successful financing strategies for large-scale projects in challenging capital markets, providing a blueprint for navigating complex loan structures and refinancing scenarios. The deal also highlights the importance of experienced advisory firms in securing flexible financing that can adapt to project evolution, which is crucial for maintaining development momentum in uncertain economic conditions.
Summary
Greysteel, a leading national commercial real estate and capital markets services firm, has successfully arranged a substantial $93 million senior construction loan for a major residential development project in Brunswick County, North Carolina. The financing supports horizontal infrastructure for a large-scale, master-planned community that will ultimately deliver over 2,000 single-family lots, with five national and regional homebuilders already committed to lot takedowns. This landmark transaction represents approximately 81% of the total project cost and marks a significant achievement for Greysteel Associate Landen Nix, who led the deal with support from Senior Director Daniel Hartnett.
The complex financing arrangement involved working with a New York-based lender to refinance a challenged legacy capital stack while simultaneously upsizing the loan to accommodate the conversion and sale of paper lots during development. Greysteel demonstrated exceptional market navigation by leveraging its deep relationships with a curated group of 10 to 15 qualified land development lenders, quickly sourcing multiple competitive term sheets in a challenging capital markets environment characterized by higher interest rates and increased lender selectivity. The firm's strategic guidance allowed the developer client to prioritize this time-sensitive transaction while securing flexible loan terms that could adapt to the project's evolving needs throughout the development lifecycle.
The successful execution underscores continued lender confidence in well-structured development projects with strong sponsorship, even in a selective lending climate. Nix emphasized that securing flexible financing for horizontal infrastructure proved paramount, requiring a forward-thinking partner who could deliver certainty of execution. The lender's ability to structure terms around future lot sales was instrumental in recapitalizing the project and unlocking its next development phase. For more information about Greysteel's comprehensive advisory services, interested parties can visit www.greysteel.com to learn about their full spectrum of commercial real estate solutions.
Source Statement
This curated news summary relied on content disributed by citybiz. Read the original source here, Greysteel Secures $93M Loan for NC Master-Planned Community
