Second Street Capital seeks to expand its building operations
July 18 2013 - 11:02AM
OTC Markets
PRESS RELEASE
July 18, 2013
Fort
Lauderdale, Florida - Second Street Capital,
Inc.
Second Street Capital, Inc. (CTON), a
specialty real estate finance company, today announced that the
company is looking to partner with an established
homebuilder.
?We are currently talking with several
homebuilders that have survived what has been the worst housing
recession in over eighty years, about becoming a public
homebuilder,? commented CEO Kyle Meyer. ?Having a homebuilder as a
partner will provide us with a ?boots on the ground? prospective of
the housing market and the underwriting and funding challenges that
homebuilders are facing today. By increasing our asset size the
combined companies will have greater access to the capital markets,
which in turn should allow us to take advantage of the current
?pent-up demand? for both housing and project financing.
Second Street
Capital, Inc., a publicly traded company (CTON) is a specialty
finance company, providing revenue participation loans to small and
medium size homebuilders. Headquartered in Fort Lauderdale,
Florida, the company helps facilitate the flow of capital to
community based homebuilders and developers to support job growth,
share prosperity and increase the local tax base. The Company?s investment philosophy is to
target unique residential housing projects that are being
under-served by traditional banks and other large financial
institutions.
Certain information included in this press release may contain
forward looking information that is subject to certain risks,
trends and uncertainties that could cause actual results to differ
materially from expected results. Among these risks, trends and
uncertainties are SSCI?s ability to raise capital, risks associated
with SSCI?s new business plan, national and local economic
conditions, including conditions in the homebuilding and
construction industry, conditions and trends in the real estate
industry in general, changes in interest rates and other
factors.
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