Landmark Capital Advisors is pleased to announce the successful equity capitalization of Lake Atlin. Proceeds will be used to purchase an 8.76 acre former school site in the San Carlos neighborhood of San Diego and process entitlements for approximately 50 single family residential lots.
Challenges of the assignment included:
1. The site was purchased zoned but without a map, requiring a high degree of knowledge relative to the entitlement process within the City of San Diego.
2. The seller was a public agency, requiring the site to be purchased in bulk rather than as a structured transaction.
3. The Sponsor had only a 30 day due diligence period, so expedient underwriting and certainty of execution were paramount.