Homestake was presented with an opportunity to make a Mezzanine Loan to Texas homebuilder Liberty Home Builders (“Liberty”). Liberty had moved from building homes at wholesale for private equity to a retail model (direct to consumer). Liberty required funds to cover short-term operating costs as they moved through startup and delivery cycle. Liberty also sought funds for deposit monies for future projects. Homestake thoroughly vetted Liberty and the market in addition to structuring a loan partnership that made sense for both parties. The loan was made and has performed flawlessly. Homestake continues to work with Liberty and is evaluating providing additional financing for growth.