Land Loans $5M – $50M | 954-773-5429

Closings

Closed, by asset type.

A selection of recent closings across construction, land, hospitality, refinance and business credit — from $500,000 to $58,000,000.

Construction

5 deals

$58,000,000 – Construction Loan – Luxury Condominiums – Nashville, TN
$40,100,000 – Construction Loan – Multi Family – Paterson, NJ
$36,000,000 – Construction Loan – Multi Family – Gainesville, FL
$8,000,000 – Construction Loan – Self Storage – Gainesville, FL
$1,400,000 – Acquisition & Construction Loan – Land Acquisition for Retail – Roswell, GA

Land

10 deals

$36,200,000 – Infrastructure Loan – Entitled Land – McDonough, GA
$20,000,000 – Acquisition Bridge Loan – Land Assemblage – Boston, MA
$15,000,000 – Cash Out Refi for Approval – Land Assemblage – Chicago, IL
$11,000,000 – Bridge/Refinance – Entitled Land – Prescott, AZ
$10,400,000 – C/O Refi for Entitlements – Non-Entitled Land – Maui, HI
$8,000,000 – Full Doc – Entitled Land – Park City, UT
$7,600,000 – Horizontal Cash Out Refi – Land/Subdivision – Pacifica, CA
$5,000,000 – Lot/Infrastructure Loan – Residential Lot Subdivision – Middletown, DE
$4,800,000 – C/O Refinance – Entitled/Permitted Land – King of Prussia, PA
Flag Negotiation – Resort Land – Turks and Caicos

Hotel / Hospitality

4 deals

$29,100,000 – USDA Loan – Boutique Hotel – Iron Mountain, MI
$6,500,000 – USDA Loan – Marina – Knoxville, TN
$6,200,000 – USDA Rehab Loan – Boutique Hotel – Lake George, NY
$3,800,000 – SBA 7A – Flagged Hotel – Mobile, AL

Refi / Bridge / Rehab / Equity

14 deals

$25,000,000 – Cash Out Refinance – Assisted Living Facility – Tarzana, CA
$14,000,000 – C/O Refi to Renovate Home & Sell – Multi Asset Residential Blanket Loan – Clearwater, FL
$13,000,000 – Rehab/Conversion – Warehouse Conversion – Albany, NY
$12,100,000 – C/O Refi to Complete Rehab – Mixed Use Condo & Retail – Newport, RI
$6,100,000 – Bridge Loan – Acquisition – Port St. Lucie, FL
$3,300,000 – Pref Equity – Multi Family Complex – Houston, TX
$3,200,000 – Portfolio Cash Out Refi – Office – Norfolk, VA
$2,600,000 – Cash Out Refi – Retail – Columbus, OH
$2,250,000 – Purchase (No Doc Loan) – SFR Home – Tampa, FL
$2,200,000 – Cash Out Refinance – SFR Investment – Englewood, CO
$2,000,000 – Bridge Loan, C/O Refi – Penthouse Investment Condo – San Juan, PR
$1,750,000 – C/O Refinance – Investment Condo – North Miami Beach, FL
$1,500,000 – Cash Out Refi – Investment Condo – New York, NY
$500,000 – Cash Out Refi – Yacht – Miami, FL

SBA / Business

9 deals

$6,000,000 – A/R Line of Credit – General Contractor – Fort Lauderdale, FL
$4,750,000 – Credit Union Refinance – Veterinary Clinic – Philadelphia, PA
$2,100,000 – SBA 7A (Cash Out Refi) – Single Use Commercial Building – Scranton, PA
$1,800,000 – SBA 7A Refi/Expansion – Restaurant & C-Store Expansion – Osceola, MO
$1,400,000 – Revenue Term Loan – Mobile Gaming Business – Los Angeles, CA
$1,300,000 – Revenue Term Loan – Steel Framing Business – Leesburg, FL
$1,200,000 – SBA 7A – Restaurant – San Francisco, CA
$1,150,000 – SBA 7A Refinance – Boutique Art Gallery – Denver, CO
$1,000,000 – Conventional Loan – Restaurant – Los Angeles, CA

Aerial view of entitled land at golden hour, parcel lines cut into the scrub

Rodney McIlroy · Land capital since 2004

Capital for the land everyone else is still underwriting.

Rodney McIlroy has financed land for more than twenty years — starting in Miami, closing all over the United States. Entitled land loans from $5M to $50M, mezzanine, JV equity and bridge capital, priced by a principal who reads the plat before he quotes a rate.

Submit your deal See the track record

Rodney McIlroy · Principal

Years in land: 20+
Loan size: $5M – $50M
Markets: Nationwide
Headline terms: 12% · 3 pts

25.7617° N · 80.1918° W — MIAMI, FL

Survey plat map with parcel lines, a brass compass and a steel scale ruler

Every deal begins here — on paper, in ink, with the approvals in hand.

The lender

Started in Miami. Still underwritten on the ground.

Rodney McIlroy has been lending against land for more than twenty years. He started in Miami, in a market that punished anyone who confused a rendering with a right to build, and learned the trade the only way it sticks: parcel by parcel, approval by approval, at the table with the planners, the engineers, and the sellers who had already said no.

That is still how Rodney works. Before a dollar is quoted, the zoning designation, the site plan status, the utility commitments and the exit get read line by line. A land loan is not a bet on a brochure. It is a bet on the day the approvals land.

Today the deals close coast to coast — entitled land, raw land on the path to entitlement, and the capital stacks that carry both. Twenty years in, the phone still rings to Rodney, and the answer still comes from Rodney.

“I don't lend on what the land might become. I lend on what has already been approved.”

Rodney McIlroy

Principal · Land Lending & Equity

954-773-5429

Loan programs

Four ways into the capital stack.

Deals are sized against approvals, basis and exit — not against a rate sheet. If the entitlement is real, the capital is available; if it isn't, you'll hear that straight from Rodney before anyone spends money on diligence.

Senior debt

Entitled Land Loans

First-lien capital against land that already has its approvals. Zoning, site plan and utility commitments are the collateral — not the rendering.

$5M – $50M
50% loan-to-cost
12% interest
3 points

Stretch capital

Mezzanine Debt

Subordinate capital that closes the gap between the senior loan and an honest equity requirement, priced for deals that are already de-risked.

Up to 80% of total capitalization
14% coupon
Behind senior, ahead of equity

Co-investment

JV / GP Equity

Rodney comes in as GP with committed LP capital behind him, runs the entitlement and the exit, and carries the promote only when performance earns it.

GP position
Committed LP capital
70% promote

Time-sensitive

Bridge Loans

Short-term money between acquisition and the event that creates the value — the rezoning, the plat, the utility agreement, the take-out.

Acquisition to entitlement
Interest-only
Close on the calendar, not the committee

All programs subject to underwriting · Entitled land loans sized at 50% loan-to-cost

Proof

Two structures that closed.

Full track record

Mezzanine

Closed

Up to 80% of total capitalization

A land assemblage where the senior lender would only reach the entitlement milestone. Rodney placed mezzanine behind it to complete the capital stack without forcing a discounted equity raise.

Structure14% coupon

JV / GP Equity

Closed

Rodney as GP with committed LP capital

Rodney stepped into the general partner seat, brought LP capital in behind his own basis, and carried the entitlement through to an approved, marketable exit.

Structure70% promote

From the feed

Straight from the feed.

Two decades of land lending, the same message on every post: direct capital, no middlemen, $5M to $50M.

Land financing

Land Loans$5M to $50M

Direct land lender

Recently closed

$3.5M
$18M
$35M
$23M
$16M
$10M

Backed by $250M • 20 Years • Family Office

Rodney McIlroy

Insights

Land loans, explained in plain English.

All articles

Entitlement7 min read

What "entitled" actually means when a lender asks

Zoning, site plan, concurrency, utilities — four different approvals that get collapsed into one word. Here is what each one does to your loan amount.

Read

Capital Stack6 min read

Why land loans size at 50% loan-to-cost

Land does not produce income, so it does not get underwritten like a building. A plain-English walk through how a land lender thinks about basis and exit.

Read

JV Structure8 min read

The 70% promote, explained without the pitch deck

Who puts in the capital, who does the work, and what a promote actually compensates. A beginner's map of a land joint venture.

Read

Think tank & podcast

Land is a small world. Learn it from the people already in it.

Rodney's land think tank started as a few beginners asking the same three questions. It is now a community, a podcast and a video channel for anyone who wants to understand how land actually gets approved, financed and built on.

The Land Think Tank

A beginner-friendly room for people buying their first parcel — zoning questions answered without the condescension.

The Podcast

Long-form conversations about entitlements, basis and the deals that almost died before they closed.

YouTube

Walk-throughs of real land deals: what the plat looked like on day one, and what the approvals changed.

Join the think tank

Podcast microphone and topographic map on a desk in a dark concrete studio

Submit your deal

Send the dirt. Get a straight answer.

Every submission is read by Rodney personally. If the file fits a program, you'll hear back with terms. If it doesn't, you'll hear that too — with the reason.

954-773-5429 rodney@auburninvestmentgroup.com

· $5M – $50M entitled land
· 50% loan-to-cost · 12% · 3 pts
· Mezz up to 80% · 14% coupon