DF Capital Management, an affiliate of Dream Finders Homes of Jacksonville, Florida, closed its inaugural real estate Fund (DF Residential I, LP) earlier this year with nearly $40 million of equity commitments.
DF Residential I, LP is partnering with private home builders to provide project-level equity/debt for community development and the construction of entry-level homes. The Fund, which has 11 investments to date, secured project level debt alongside its equity commitments which will translate into over $90mm of purchasing power for residential land. DF Residential is investing nationally with a focus on the Jacksonville, Orlando, Austin, Denver, and Northern VA/MD metropolitan areas.
"In most markets across the country, entry-level homes are in short supply,” said Chris Butler, managing partner of DF Capital Management. “However, private builders still have issues getting the capital/land to bring supply to market. We’re excited to fill this capital void in a space where you still don’t have to fight to find good returns given the limited number of capital providers.”
Patrick Zalupski, the CEO and founder of Dreamfinders Homes commented: "We are excited to partner with DF Capital Management to help continue the growth of Dream Finders Homes. Dream Finders Homes provides a first-class affordable home to our customers and we are excited to compliment the home building side of the business with an attractive investment opportunity for institutional investors and high net worth individuals."
