Clark’s Point is a picturesque, waterfront, 55 lot, 200 acre subdivision in Wiscasset, Maine that is considered to be one of the hidden gems of Maine’s gorgeous, coastal towns. Miami, FL and Portland, Maine based GenX Capital Partners, one of the largest private lending and equity originators and investors in Maine and New England, was approached by a client over the past 60 days to acquire 27 of these 55 lots with an option for the most the remaining parcels once these are built out, and he jumped at the chance to finance this incredible opportunity.
“Builder Todd Erickson approached us regarding this incredible opportunity that created immense financial upside for not only him but our Boca Raton investor, Titan Funding, and we jumped at the chance to underwrite, fund it and get him in the ground ready for summer. Clark’s Point is an absolutely gorgeous, coastal community with all infrastructure in place and is ripe to be taken to the next level; all it needed was a builder with vision and the dollars behind them to make it happen,” McClure stated.
McClure closed on the $12.7MM acquisition loan and construction line with Titan that will initially help fund these 27 homes and included an option for an additional 22 in the future.
For more information go to www.GenXCP.com and www.GenX-Lending.com
