Programmatic Capital for Land‑Light Builders
Prodigy Capital partners with land‑light homebuilders through long‑term, programmatic capital relationships. Instead of tying up corporate equity in land, builders use Prodigy as an off‑balance‑sheet land bank: we acquire and hold the land, structure builder‑friendly options and takedowns, and deliver finished lots on a just‑in‑time basis.
Our role is simple: you focus on building homes and communities; we focus on capital, land control, and exit execution. No entitlement work, no vertical construction—just purpose‑built capital solutions that align with your growth plans and risk profile.rences, and help you find the home of your dreams. With a wide range of properties to choose from, we are confident that we can help you find the perfect home for you and your family.
Off‑balance‑sheet land‑banking for builders who want to stay land‑light—and still never miss a cycle
Prodigy Capital structures programmatic land‑banking platforms for homebuilders who want reliable lot supply without parking excess equity in dirt. We buy and control the land; you secure options and takedowns that match your sales pace. No entitlement work, no vertical construction—just clean, repeatable capital solutions that support your growth plan.
How We Work With Builders
Built Around Your Pipeline, Not Ours
Every builder we work with has the same core tension: you need years of controlled lot supply, but your investors and lenders want a cleaner, more flexible balance sheet.
Prodigy sits in the middle. We:
- Acquire and control residential land in your target submarkets
- Structure options and takedowns that mirror your expected absorption
- Hold the land off your balance sheet (subject to your auditors’ guidance) while you focus capital on operations and vertical construction
Our goal is to become a programmatic partner—not a one‑off deal counterparty. We want you to be able to say: “Prodigy handles our land bank in these markets.”
Structures We Use
Flexible Structures: Lot Options, Rolling Takedowns, and JVs
We don’t believe in forcing every deal into one box. Instead, we use a small set of proven structures that builders already understand.
Lot Option Programs
We acquire and hold the land or finished lots. You receive:
- A call option or series of options on lots within a community
- Pre‑agreed option fees and strike prices
- A schedule that lines up with your targeted starts and closings
This gives you control without ownership. You secure long‑term lot supply while limiting upfront land spend.
Rolling Takedown Structures
For larger communities or multi‑phase pipelines, we’ll set up a rolling takedown:
- Prodigy closes on the land or larger tract
- You commit to phased lot purchases (monthly, quarterly, or milestone‑based)
- Each takedown is sized to your current sales velocity and financing plan
You avoid a large one‑time land purchase and instead match land spend to actual demand, while still locking up the site and limiting competitive risk.
Joint‑Venture (JV) Land Platforms
Where appropriate, we’ll co‑invest with select builders in land‑only JVs:
- Prodigy contributes most or all of the land capital
- The builder contributes local expertise and pipeline visibility
- Economics can be structured as a preferred return plus profit participation, or as option/takedown economics with upside sharing
The JV owns the land; your core entity focuses on operations and vertical construction, often with more favorable optics for lenders and rating agencies.
Keeping Land Off Your Balance Sheet (and Why That Matters)
Balance‑Sheet Friendly by Design
Most public and large private builders are moving toward land‑light models for a reason: tying up excess equity in land hurts returns, leverage metrics, and flexibility.
Our structures are designed to:
- Shift land ownership to Prodigy or a Prodigy‑led vehicle
- Leave you with options or contractual rights to lots, rather than title to the underlying land
- Support accounting treatments (subject to your auditors’ conclusions) that can help keep certain land exposures off your balance sheet or treated differently than direct ownership
The end result: you still have line‑of‑sight to the lots you need over the next 24–60 months, but with less capital intensity, lower holding risk, and greater flexibility if market conditions change.
(Exact accounting treatment depends on your auditors and applicable standards; Prodigy does not provide accounting, tax, or legal advice.)
What Builders Get Out of It
What This Means for Your Business
- More starts with less equity: Recycle capital from dirt into vertical construction and operations.
- Smoother land pipeline: Pre‑planned options and takedowns reduce “feast or famine” land buying.
- Risk‑managed cycle exposure: If the market slows, your option structures and takedown schedules give you more levers than outright land ownership.
- Cleaner story to investors and lenders: You can articulate a clear, land‑light strategy supported by a dedicated land‑bank capital partner.
Who We Partner With
Who Is a Good Fit?
We’re a fit for builders who:
- Operate in high‑demand California and Western U.S. submarkets
- Want to scale volume without scaling land on the balance sheet
- Value a long‑term capital relationship over one‑off deals
- Are comfortable working with a specialized land‑bank / REIT platform rather than a traditional lender
We don’t entitle or develop land ourselves—we focus solely on capital, land control, and exit execution. For entitlement and development work, we collaborate with your existing teams or third‑party specialists.