– Reeder Land Development Secures $100 Million Credit Facility to Accelerate Residential Lot Development Growth Initiatives –
Dallas, Texas – January 6, 2021 – Dallas-based Reeder Land Development Company (“Reeder”), a division of Reeder Capital Partners, today announced it has secured a $100 million credit facility with New York City-based Fortress Credit Corp. (“Fortress”) to fund Reeder’s master planned single family residential community development expansion initiatives throughout the Southeast and Southwest United States.
“As previously announced, our current lot development expansion efforts are primarily focused in the North-Central region of North Carolina, specifically in proximity to the Raleigh-Durham area. Similar to our Texas, Louisiana and Florida developments, the Raleigh-Durham Research Triangle area in particular has shown consistent and dynamic growth, even during the pandemic,” said Bryan T. Reeder, Co-Founder of Reeder Land Development Co. “Our new credit facility with Fortress will allow us to more rapidly take advantage of the many development opportunities being presented to us in this area, as well as other regions of the country we focus on.”
About Reeder Land Development Company
Based in Dallas, Texas, Reeder Land Development Company is a wholly-owned division of Reeder Capital Partners LLC. Reeder Land Development was co-founded by brothers Bryan and Chris Reeder, the grandchildren of legendary Texas capitalist H. R. “Bum” Bright. As a master planned single family residential community developer and construction manager, Reeder Land Development is primarily focused on land acquisition and development of residential lots for national and large regional home builders in the entry to mid-level homes market segment, concentrating on building master planned communities across the Southeast and Southwest United States. For more information about Reeder Land Development Company and Reeder Capital Partners, see: www.reedercap.com/real-estate.
About Fortress
Fortress Credit Corp. is an affiliate of Fortress Investment Group LLC. Fortress Investment Group LLC is a leading, highly diversified global investment manager. Founded in 1998, Fortress manages $54.2 billion of assets as of September 30, 2021, on behalf of approximately 1,800 institutional clients and private investors worldwide across a range of credit and real estate, private equity and permanent capital investment strategies.