Tom Farrell Farrell: “The average buyer would rather be closer to their work (reduced commute times), so, if they can afford to, they will focus on the primary markets.”

NEWPORT BEACH, CA—Focusing on return metrics, a team’s ability to execute, location and what makes the specific project unique from its competition will make equity providers take notice on secondary-market deals, Landmark Capital Advisors’ director of business development Tom Farrell tells The firm secured $14 million of JV equity to finance the acquisition, development and construction of 152 residential units in Oxnard, CA. Farrell says getting a capital partner comfortable with entering a market considered secondary with a large lot count was challenging, but his firm was able to identify a top-tier equity provider and provide ongoing support to ensure a successful close. We spoke exclusively with Farrell about the deal and about working with equity providers in secondary-market transactions.