Greenbriar Sustainable Living Inc. secured a $40 million senior secured construction loan to fund the 995‑home Sage Ranch community in Tehachapi, California.
The loan is provided by a private fund vehicle managed by Voya Investment Management and will support construction across six phases, with the first phase expected to begin in early 2026.
The financing follows the company’s recent acquisition of 188 net acre‑feet of adjudicated water rights, plus an additional 39 net acre‑feet from the City of Tehachapi, which removed a major regulatory barrier and made the loan possible.
Greenbriar’s move to secure debt marks a shift from a development‑focused model to a revenue‑generating one, but the company remains in a challenging financial position. For the nine months ended September 30 2025, it reported a comprehensive loss of $2.67 million, while total liabilities rose from $16.18 million at the end of 2024 to $17.41 million, and shareholders’ equity fell from $4.09 million to $2.70 million.
Despite the losses, the company’s first‑half 2025 revenue of C$17.73 million grew 60 % from C$11.09 million in the same period of 2024, indicating that construction and sales activities are gaining traction.
CEO Jeff Ciachurski said the loan will accelerate construction timelines and help the company move closer to generating operating income, while the company continues to focus on efficient project execution and cost control to navigate its financial challenges.
The $40 million facility provides the capital needed to complete the Sage Ranch project, which is expected to generate significant revenue once the homes are sold, and positions Greenbriar to transition toward a stable, revenue‑driven business model.
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