What is the best way to raise capital for an industrial site that I want to purchase?

[Justine Barone]

Hi there!

This is my first post, I'm grateful to be a part of this community. I have gone under contract with a 56 acre industrial lot in Apex, NC that I need to close on by October 18th for around $2M. I've put $400K into the lot already to increase the value of the lot from $2M to $9-$15M. The owner of our firm is cash tight and from another project and cannot be a personal guarantor. I'm trying to get creative with how I can close this land out. 

What are some of the best options for me? Are there crowdfunding platforms for CRE that actually work? This is a hot deal with a high return. We have already had an offer for one small piece of the land for $8.5M and another piece of the land for $2M. What is the best way to find investors quickly that would be interested in this deal?

Thanks so much for your help!

[Aj Bellamah]

Given you've already put money into this, have you considered going to the owner and seeing if they would do some sort of creative owner financing with equity split options? May be a win/win if you have no other way of closing and the owner would be amenable to a higher return with slightly more risk. Good Luck!