Investment Introduction

We have three non-negotiable criteria for fund partnerships: conservative underwriting, structural downside protection, and sustainable yield.

Most funds deliver one, maybe two. Leeward delivers all three. Their 76% average LTV gives an equity cushion. Their full recourse status means borrowers can't walk away. 60-90 day Power of Sale means fast recovery.

Property Llama Capital is launching this partnership because it's a rare opportunity that doesn't ask you to choose between yield and protection. After extensive due diligence across dozens of debt fund opportunities, we're launching our partnership with Leeward Capital Partners.

We don't take this lightly. Our investors have trusted us to find opportunities that deliver superior risk-adjusted returns, and Leeward is the only fund we found that combines conservative underwriting with structural protections that US lenders simply can't access.

Executive Summary

Property Llama Capital has created PLC3 LLC - PLL 1 to invest in Leeward Credit Fund, LP (Leeward), a Canadian private mortgage lender focused on residential real estate. Leeward provides owner-occupied bridge loans, fix-and-flip loans, and short-term refinances in markets with strong housing fundamentals and favorable private-lender regulations.

Target Returns: 16.10% – 19.55%+ annual tax equivalent cash on cash, depending on investment tier*

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Lifetime Bump to Tier C - Time Sensitive

Click below to fill out the soft commit form to get started

Every investor who funds before Leeward's line of credit closes gets a lifetime bump to Tier C — our top tier, normally reserved for $1M+ relationship balances — regardless of investment size. That's roughly a 21% increase in forecasted returns for the life of your investment.

👉Fill out the soft commit form → Secure your spot (limited availability)

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What is tax equivalent yield?

Tax Advantage: Treated as qualified dividend income — not ordinary income

Estimated tax savings: 32%–50% reduction — roughly 30% more after-tax cash flow for investors in higher tax brackets
Tax equivalent yield vs. an interest income fund: 16.10% – 19.55%
Always check with your CPA </aside>

12.68-15.40%+ target cash yield*

Fund Terms at a Glance:

Minimum Investment: $100,000
Distributions: Monthly — cash, reinvestment, or both
Initial Term: 18-month lock-up period
Tax Treatment: K-1
Offering Type: Regulation D, Rule 506(c) — Accredited Investors only

Assumes 37% federal income tax rate and 20% qualified dividend tax rate. Assumes Line of Credit in place in Q1. Without LOC, projected returns are 7.74–9.40%+ / 10.27–12.47%+ tax equivalent yield

Quick Links:

Investment Introduction

Executive Summary

Target Returns: 16.10% – 19.55%+ annual tax equivalent cash on cash, depending on investment tier*

Lifetime Bump to Tier C - Time Sensitive

What is tax equivalent yield?

A Letter from Chris Lopez