Via Alta

Not every deal is about a borrower who needs maximum leverage. This developer owned his Del Mar lot free and clear and was putting $5 million of his own cash into building a 5,000-square-foot spec home with a pool and ocean views above 15th Street. He came to us for $2 million, essentially a backstop to ensure he could complete the back end of construction without interruption.

A $2 million loan on what will be a $12 million home is extremely conservative. But conservative borrowers still need a lender who can move quickly and structure a deal that matches their specific situation. We provided exactly that: fast capital with no unnecessary friction, sized to complement his equity rather than replace it.

The project is nearing completion and should list for summer 2026. Our $2 million sits against one of the best risk profiles in our portfolio, and the borrower got the certainty he needed to build without worrying about a funding gap.