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New Construction Loan

Single-Family | Connecticut

Stormfield funded a $2M Hard Money New Construction Loan in New Canaan, CT

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Single-family property in New Canaan, CT

  • Loan Amount

    $1,989,000

  • LTV

    63.52%

  • Term

    12 Months

Transaction Overview

Stormfield funded a $1,989,000 loan for a highly experienced developer acquiring a site and building an approximately 4,100-square-foot single-family home near downtown New Canaan, Connecticut. The developer has completed prior projects in the same town, bringing local market knowledge to this build. The loan is structured at approximately 63.5% LTV, preserving a solid equity cushion. Underwriting weighed the construction timeline and the New Canaan residential market, with conservative leverage and the sponsor’s local track record supporting the plan. The deal reflects Stormfield’s disciplined approach to ground-up construction lending with experienced builders.

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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.