Oklahoma City is known for being a tough homebuilding market for national companies. D.R. Horton is the only one to even try since at least 1999 — but then it’s based in Fort Worth, Texas, which is close enough for them to have connections.
Could that change? Capital is looking for places to land, and, with bankers still doing more banking than lending, homebuilders are looking for alternative sources of funding. I wonder if any national-local partnerships are in place or in the works. …
“Sourcing capital remains among the most challenging obstacles we face in real estate, especially in homebuilding. We are seeing debt providers compete over core development opportunities, and although equity has been focused on other property types, mainly income properties, we are seeing them take a strong look at homebuilding.” — from the Meyers/PCBC Capital Markets Survey
“The Meyers/PCBC Capital Markets Survey was created to ask debt and equity sources the questions that developers were most interested in. It is our goal to survey private and institutional debt and equity sources about cost of capital, preferred rates, return requirements, geographic preference, and G&A structures in order to determine where improvements in terms have been made and what groups need to do to meet the requirements of capital sources in today’s environment.”