A combined land development and lot development program in Sevierville, Tennessee — ~64 acres and 223 planned lots (195 townhome and 28 twin-home), engineered by DHI Engineering and marketed by D.R. Horton as The Foothills at Red Bank. Gladdit Redbank Fund 1 provides the program's equity; D.R. Horton is contracted as the finished-lot buyer.
Layered protections that sophisticated land investors look for — built into the structure, not promised on top of it.
Principals invest their own capital alongside investors — aligned from the first dollar.
Lot purchase agreement with D.R. Horton executed before development begins.
The buyer has meaningful deposit capital at risk under the land-bank structure.
Phase 1 received full planning approval in 2026 — entitlement risk substantially retired.
Budgets and schedules controlled by a licensed Professional Engineer with 23 years of delivery.
Investor capital is deployed into dedicated project entities that own titled real property (Skycrest Redbank Land LLC and Skycrest Redbank Lot LLC), subject to applicable lender liens and the terms of the offering documents.
The takedown schedule is contractual, supported by builder earnest money, and set in a submarket with a documented shortage of finished lots — Knoxville's developed-lot inventory is down about 36% since 2017 and sits near two years' supply, with demand tightest in our exact price band (independent research: MarketGraphics, 2026). Pacing can still vary — that risk is real and disclosed — but the structure draws on the project entities' titled real property, builder deposits, and market depth while timing resolves — subject to lender liens and the offering documents.
How capital moves through the program. Full terms — including the preferred return and distribution waterfall — are defined in the offering documents.
Capital funds land acquisition and horizontal development.
Investors hold a preferred position ahead of sponsor profits.
Builder closings across four phased takedowns trigger capital and profit distributions.
A ~24-month program horizon, with proceeds re-deployable into the next phase.
Summary for orientation only — not an offer and not a projection of returns. The offering documents control.
Contracts & entitlement
Phase 1 approved 2026
Roads, grading, utilities
Four phased closings — 56 / 56 / 56 / 55 lots
Timed to substantial completion · capital recycles
Sponsored by Gladdit Capital LLC. Structure summarized for illustration; governing documents control. Not an offer of securities.
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Accredited status confirmed through third-party verification (CPA/attorney letter or a verification service), as required under Rule 506(c).
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Receive reporting and distributions per the fund terms.
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Lot development (horizontal development) turns entitled land into finished, build-ready lots — entitlement, grading, roads, water, sewer, utilities. It is the highest-value step in the housing supply chain, with short defined cycles and contracted builder exits. It is Gladdit's primary strategy and ROI engine.
Land banking is our supporting strategy: holding entitled land under builder contracts secures the pipeline for future development phases, controls land basis, and strengthens the builder relationship. It feeds the development engine rather than competing with it.
Our offerings are private placements under Rule 506(c) of Regulation D, limited to accredited investors and institutions. Because 506(c) offerings may be publicly discussed, the law requires accreditation to be verified through reasonable steps — third-party verification such as a CPA or attorney letter, or a verification service — before any investment. This website is not an offer of securities.
Primarily at builder takedowns — when finished lots or land are sold per contract, capital and profits are distributed per the fund's terms, with investors holding a preferred position ahead of sponsor profits. Each offering's documents define the exact waterfall and timing.
Yes. Gladdit's principals co-invest their own capital in every program alongside outside investors. We believe a sponsor should carry real skin in the game — our capital takes the same project risk yours does.
Takedown schedules are contractual and supported by builder earnest money, but pacing can vary with market conditions — this is a real risk we disclose plainly. Mitigants: the project entities' titled real property (subject to lender liens), builder deposits at risk, a documented finished-lot shortage in our submarket (Knoxville's developed-lot supply is down about 36% since 2017; D.R. Horton's Knoxville division reported supply at about half of demand), and conservative underwriting that stress-tests delayed scenarios.
Illiquidity, entitlement and construction risk, financing and interest-rate risk, builder-pacing and counterparty risk, and the potential loss of all invested capital. Review each offering's full risk disclosures with your own legal, tax, and financial advisors.
Skycrest Development has worked with D.R. Horton's Knoxville Division since 2022 and has delivered developed lots in accordance with required schedules and specifications.
This statement describes Skycrest Development's prior development relationship and does not constitute an endorsement of Gladdit Capital, the Redbank offering, or any investment outcome. It is Skycrest Development's experience, not a Gladdit Capital track record, and does not guarantee future performance.
"The standards they hold are above the majority of applicants… smooth transitions, good stormwater drainage and beautiful landscaping. I would gladly work with them again."
City of Sevierville, TN — Department of Development · Dec 2024"Disciplined underwriting, conservative leverage, and a committed national-builder exit — the sponsor profile we look for in land development lending."
Development Lender Reference — Harvest Capital · placeholder pending authorized quoteLetters excerpted from signed originals (full copies available to qualified investors); the lender reference shown is sample placeholder text pending an authorized quote.
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