Senior Secured Construction Credit · St. Augustine, FL
Income built on first-lien homes rising across the Southeast.
1565 Debt Fund 1 lends to experienced regional builders through a platform that has originated over half a billion dollars — and owns every step of the deal, from loan to sale.
The Thesis
Most lenders fear defaults. We're built to turn them into opportunity.
We target growing markets with tight housing supply and underwrite every loan to hold up in a downturn. Every loan sits in first position, secured by the land and the home being built.
Because our affiliate already has the teams to finish, lease, or sell a property, a default can mean acquiring a home below its value — not a write-off. Lending produces steady income and real-time market insight; ownership builds long-term value.
And our principals invest their own family capital alongside partners in every deal.
Platform Track Record
Platform history reflects the Manager's affiliated lending business, not the Fund, which is newly formed. Past performance does not guarantee future results.
Every Step, In House
A vertically integrated machine behind every loan.
Ancient City Capital lends, insures, closes, owns, manages and sells real estate — all under one roof. $1.9B+ in assets under management, 8,000+ units across 55+ projects, and 40+ years of leadership.
Lend
1565 Capital finances experienced builders on terms the platform controls.
Protect
In-house title and insurance companies handle closings and coverage.
Recover
If a loan defaults, our own construction teams can take back and finish the home.
Manage
Partner Integrity Rise manages properties for long-term rental income.
Sell
The ERA Real Estate network connects every market with top local brokers.
Strategy
Ground-up homes. First lien. Milestone-based draws.
Single-family homes, townhomes and small multifamily by proven regional builders. Loans typically $150K–$3M, interest-only with reserves funded at closing, and full personal guaranties from every 20%+ owner.
- Max 77.5% as-completed LTV
- Draws released only as construction milestones are verified
- Independent appraisal, title insurance & builder interview on every loan
- Prudent back leverage to enhance investor returns
The Offering
Simple notes. Predictable income.
Base Return
8.00% per annum, with upside targeting 11–13%+ total return.
Structure
Unsecured term notes in $5,000 units. $100,000 minimum.
Liquidity
Five-year term with a lockout period, then redemption on 90 days' notice.
Leadership
Operators and lawyers who've done it at scale.
Christopher Walker
Principal
Attorney with 15+ years in real estate and real estate finance, participating in transactions exceeding $5 billion. Leads credit funds and strategies and sits on the Investment Committee.
Lee Kaplan
Principal · Head of Operations & Business Development
Founder and operational architect of the lending platform. Built origination, operations and technology since 2015 — over $529M in construction loans originated.
Put your capital to work alongside ours.
Open to verified accredited investors. Create your account on our investor portal to review the full offering documents and subscribe.