Scottsdale-based Taylor Morrison and Kennedy Lewis Investment Management (KLIM) have entered into a land and construction financing facility agreement, opening $3 billion in capacity for existing and new land opportunities, land development, and construction costs of projects by Taylor Morrison’s build-to-rent brand, Yardly.

This new facility provides further cash flow efficiency and optimizes value. Taylor Morrison’s existing land strategies include joint ventures, seller financing, deferred participation payments, land banking and more.

Taylor Morrison and KLIM have experience working together with an existing land banking agreement serving the homebuilders’ for-sale operations. The flexible finance facility will provide balance sheet relief and greater optionality, serving existing Yardly assets and new acquisitions. Yardly homes have first-floor entry, limited wall-sharing to reduce noise, and no neighbors above or below you. In addition, dogs are welcome, and units have a backyard.