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New Construction Loan

Single-Family | New Jersey

Stormfield funded a $3.3M New Construction Loan in Mantoloking, NJ

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Waterfront single-family home in Mantoloking, NJ

  • Loan Amount

    $3,260,000

  • LTV

    52.89%

  • Term

    18 Months

Transaction Overview

Stormfield funded a $3,260,000 new construction loan for builders developing a single-family home on a waterfront lot in Mantoloking, New Jersey. The 18-month loan finances ground-up construction of the new residence. The loan is structured at approximately 52.9% LTV and 70% loan-to-cost. Underwriting weighed the construction scope and timeline and the Mantoloking residential market, along with the business plan for the property. For brokers and borrowers, the deal shows how Stormfield finances ground-up construction of waterfront single-family homes in New Jersey, with an 18-month term sized to the build schedule for the new home.

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Wesley W. Carpenter - Stormfield Capital

Wesley W. Carpenter

Co-Founder & Partner

Wesley Carpenter is a Co-Founder and Partner of Stormfield Capital. He leads the firm’s investment strategy and portfolio management, serves on both the management and investment committees, and plays a central role in credit and risk oversight across the platform. Under his leadership, Stormfield has deployed over $2 billion, spanning the origination, acquisition, and asset management of commercial and residential bridge loans.

Wes brings more than 15 years of experience in real estate credit and structured finance. Prior to founding Stormfield, he served as a Vice President at Greenwich Associates, a boutique financial services consultancy, where he advised senior executives at commercial and investment banks on balance sheet optimization and the adoption of structured credit strategies. He began his career in Corporate Development at Illinois Tool Works (NYSE: ITW), focusing on mergers and acquisitions and strategic growth initiatives across the firm’s global industrial portfolio.

He holds a B.S. from Fairfield University and an M.B.A. from Binghamton University.