Homestake Capital LLC, a real estate investment firm, has provided funding to New Jersey-based developer Harvestate Group LLC. No financial terms were disclosed. The capital infusion will be used for The Enclave at Winslow, a Winslow, New Jersey-based community of 105 town home rentals.
BRIELLE, N.J. (PRWEB) DECEMBER 06, 2018
Topping off a successful year of investment opportunities, Homestake Capital, LLC (“Homestake”), a boutique real estate investment firm in Monmouth County, NJ, has announced that it has provided growth capital to developer Harvestate Group, LLC for The Enclave at Winslow, a successful new community of 105 townhome rentals in Winslow, NJ.
Harvestate Group approached Homestake Capital after being confronted with the need to secure quick equity for The Enclave at Winslow in 2016. “Homestake Capital conducted their due diligence and committed the funds needed to close on the property and put the project into production,” said Stephen Patron of Harvestate Group, LLC.
“We have now completed several projects with Homestake Capital. Each has had a different composition and structure,” said Patron. “At every opportunity, when Homestake Capital, and Michael Kokes specifically, made a commitment the deal got done. It is comforting to know you’re dealing with integrity.”
Over the last two years, Harvestate Group and Homestake Capital have worked on four projects together where the funding has closed. “In one project, the capital has been returned and we remain partners,” said Patron. “In the other three deals, the projects are ongoing and Homestake has met every capital call.”
Michael J. Kokes, Managing Principal of Homestake Capital, LLC, says, “It has been a pleasure working with Harvestate on numerous development projects throughout New Jersey. During our most recent venture with Harvestate Group, we provided them with the growth capital needed for Enclave at Winslow, a tranquil community of new townhomes nestled amidst green space and preserved woodlands in Winslow, NJ, and we are all extremely satisfied with the remarkable results of this project.”
Harvestate Group has been in the development business for decades and has closed countless numbers of debt, mezzanine and equity deals through the years. Harnessing that industry knowledge and expertise, Patron proudly refers Homestake Capital to any and all developers extremely impressed with Homestake’s quick decisions, reliability and honesty. “Homestake is my first stop with new projects as they are willing to look outside of traditional benchmarks and are open to creative structure,” said Patron. “I advise anyone looking to do business with Homestake to simply be honest, put your cards on the table and treat Homestake as you would a valued partner.”
About Homestake Capital, LLC
Homestake Capital, LLC, a boutique real estate investment firm located in Monmouth County, New Jersey, is focused on providing direct investment and non-traditional lending to residential and commercial developers. Homestake further adds value by providing development and building experience to the sponsor or borrower. Homestake’s unique niche is providing capital for projects that are too big for one investor, but too “small” for a traditional institutional investor. To learn more, visit https://homestakecapital.com.
Homestake Capital partners with Harvestate Group on NJ rental project