US Capital Global entered into term sheets to provide credit facilities totaling $158.4 million to Harbor Custom Development, a real estate company involved in all aspects of the land development cycle. Harbor Custom Development intends to use the new credit facilities to provide construction financing for three condominium projects in western Washington and one in southwest Florida.
US Capital Global is a private financial group with a track record in investment banking, asset management and capital formation services. The firm provides debt, equity and investment products to lower middle-market companies and investors. All securities are offered by the group through its FINRA-member, SEC-registered broker-dealer affiliate, US Capital Global Securities.
“We are delighted to enter into a relationship with US Capital Global, which has the ability to provide us construction financing on a national scale. US Capital Global fills a key role by offering a one-stop shop for our land development and vertical construction financing needs,” Sterling Griffin, president and CEO of Harbor Custom Homes, said.
“Our business partners at Corporate Capital Solutions were instrumental in formalizing this new relationship with US Capital Global,” Jeff Habersetzer, chief operating officer of Harbor Custom Development, said.
“Over the past three years, US Capital Global has provided over $1 billion in debt and equity financing for businesses in the real estate and construction industries,” Jeffrey Sweeney, chairman and CEO of US Capital Global, said. “With deep experience in residential, commercial, industrial and medical real estate sectors, our finance team understands the industry and the challenges that developers face. We are pleased to be offering our financial services to Harbor Custom Development and supporting them with debt financing totaling $158.4 million.”
