Four Platforms

Gibraltar provides acquisition and development capital for residential real estate through four distinct, flexible platforms

Since inception, Gibraltar has established strong programmatic relationships with some of the country’s most respected national, regional, and single market homebuilders and land developers. Gibraltar works with each of these sponsors to efficiently capitalize the acquisition and “horizontal” development of residential projects. By investing throughout the capital stack and employing four unique platforms, Gibraltar is able to meet the needs of builders and developers – both large and small, public and private – across the U.S.

In addition to strong financial underwriting capabilities, Gibraltar has a robust knowledge of the nuances involved in project entitlements and approvals, land development activities, and the positioning, sale and construction of homes in markets throughout the country. As former builders and experienced developers, we understand your business, and approach each investment with our sponsors’ perspective in mind.

  • Non-recourse
  • Current or accrued pay
  • Builders may realize off balance sheet treatment
  • Benefit of just-in-time inventory
  • $5 million minimum A&D cost
  • 18 to 48 month option terms
  • Non-recourse A&D loans
  • Flexible release pricing and other terms
  • Up to 75% advance rates
  • Borrowers can use hard builder deposits towards equity requirements
  • $10 million minimum loan size
  • 12 to 48 month loan terms
  • Partner with developers, selling improved lots and pads to builders
  • Can be a 50% to 90% JV partner
  • Preference for lot sale agreements in place with builders
  • $10 million minimum equity investment
  • Up to 60-month project term
  • Acquire and develop land (directly or through fee developers) already controlled by a builder or other third-party
  • Sell improved lots to builders on rolling option terms
  • $10 million minimum investment
  • Up to 60-month project term

Target Investments

Gibraltar invests in a variety of residential projects in markets throughout the United States, targeting a broad range of residential community profiles:
Target Parameters:

Geography

National flexibility, with a focus on major housing MSAs

Investment Size

$5 million to $50+ million

Entitlement status

No entitlement risk; require discretionary approvals in-hand before closing

Duration

Up to 48 month project term, with longer durations for equity and direct development opportunities

Advantages

As a non-bank capital provider, Gibraltar is able to offer structural flexibility on transactions throughout the capital stack. The benefits of utilizing Gibraltar’s capital programs:

home builders

  • Facilitates a “land-light” business strategy
  • Assists with balance sheet management, including off-balance sheet treatment for land banking transactions
  • Improved ROI and IRR metrics
  • Lowers peak project capital, enabling builders to invest in more communities
  • Ability to pursue larger scale, capital-intensive projects
  • We focus on financing A&D costs, and remain independent of homebuilding operations
construction workers
site developers working

developers

  • Gibraltar can fill the role of a non-recourse lender orequity investor
  • Attractive and flexible loan terms:
  • Higher advance rates
  • Non-recourse
  • Non-refundable builder deposits can be applied towards borrower equity
  • Tailored deal terms to accommodate developer-specific needs
leadership