William Lyon Homes got 206 million in fresh funding from Colony Capital and its new Colony Financial. Colon Capital has invested more than $39 billion in more than 8,800 assets in its history.
William Lyon Homes intends to use the proceeds to purchase debt and restructure its balance sheet. It will also go after land acquisitions and use the remainder for general corporate purposes. Builders have been desperate for cash it is an advantage to William Lyon Homes.
Colony has good reputation and long history of success in real estate financing and they like to partner with well run developers. In 2008 Colony bought a 24 million dollar mortgage on pop star Michael Jackson's Neverland Ranch.
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