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Greenbriar Announces USD $40 Million Senior Construction Financing Mandate with Voya Investment Management, LLC for Sage Ranch
Coquitlam, British Columbia--(Newsfile Corp. - March 30, 2022) - Greenbriar Capital Corp. (TSX...
About this update from Greenbriar Sustainable Living Inc
[{"type":"text","content":"Greenbriar Announces USD $40 Million Senior Construction Financing Mandate with Voya Investment Management, LLC for Sage RanchCoquitlam, British Columbia--(Newsfile Corp. - March 30, 2022) - Greenbriar Capital Corp. (TSXV: GRB) (OTC Pink: GEBRF) (\"Greenbriar\") announced today it has executed a USD $40 million Mandate Agreement with Voya Investment Management (Voya IM), LLC, the asset management business of Voya Financial, Inc., for a senior secured construction loan for the construction of the 995 home Sage Ranch sustainable master planned community project in Tehachapi in Southern California. Voya will receive a bonus of 2 million (3) year Greenbriar common share warrants at CDN $1.25 per share at closing, or the same amount plus a USD $1 million cash break-up fee if the company choses another lender. Sage Ranch was planned by JZMK Partners Architects and Planners, based on Principals of New Urbanism, which are promoted through traditional neighborhood development with walkable and connected streets, strong streetscapes with housing fronting onto the street, unobtrusive off-street parking, absence of walled communities, orientation to parks near all homes, and architecture consistent with regional and local character. Sage Ranch is a fully entitled 995 home sustainable subdivision that is both leading edge with the highest quality environmental amenities and a premier location that offers an exceptionally low carbon footprint. Sage Ranch also plays an important role of meeting the needs of the California housing market which is critically short 3.5 million new homes. The following technologies and attributes make Sage Ranch an ethically responsible, near-zero carbon footprint living community:Rooftop solar panels for electrical generation on detached homes.Tesla (or equivalent) power wall for electric car charging and energy storage (optional).Capture and reuse of gray stormwater for outdoor irrigation and other non-potable uses.Use of smart meters and smart appliances. Energy efficient building materials.Walkable lifestyle minimizing daily driving: located immediately adjacent to local schools and walkable to core downtown shopping areas.Numerous public parks and open areas with sports facilitiesEconomicsAltus Group Limited, the real estate industry's gold standard for financial feasibility analysis for banks and lenders, is...