Seeking lender recommendations for development project (Kings Mountain, NC)

[Kaiser J.]

I am under contract to purchase a 12 acre parcel of land in Kings Mountain, NC that is zoned mobile home park. It currently has one very nice manufactured home on it.

My plan is to subdivide the land to create somewhere between 14-20 parcels. The existing nice home will be one of those. I will clear and grade the remainder of the land, run a road, water lines, and install septic tanks on each lot. We have already met with the zoning department and they have provided verbal support for our plan.

For exit strategy I will either sell the individual parcels to a manufactured home dealer, or install manufactured (such as modular) homes on each lot and sell them individually to owner-occupants. The latter is quite capital intensive.

An alternative exit strategy is to install manufactured homes on each lot, rent those out, and then sell as a mobile home park. This is not my preferred route because I already own some other parks and try to diversify my investments.

We have the cash to close and do this deal, but would prefer to explore financing options. A traditional bank is not the best fit for this type of project. Has anyone worked with a specialty lender that is established and that may be interested in exploring?

Thanks!