Partnership Buyout Financing

[Pablo Pinasco]

My father owns a machine shop and the M1 (limited manufacturing) zoned land it sits on in Southern California in a partnership with my uncle.  At this time they are both nearing retirement and they are looking for an exit strategy.  The largest asset in the partnership is the land that the shop sits on.  It is technically two plots that are joined together, I am unsure as to the feasibility of separating into two plots but will look further into that possibility, but we would prefer to keep both lots together since we recognize the value of the land.  There are other tenants and people who pay for storage and it pulls in about 8K in rent/storage monthly.  

My father is not that interested in selling out to a third party, but my uncle is interested. At this time my brother and I are interested in taking over the shop and buying my uncle out, and my father has always wanted us to do so and is willing to support this since he sees the value in keeping the land and keeping the business going for recurring income. 

So at this time our family is interested in buying my uncle out.  The question I have is whether we could secure financing against the land, if we plan to buy my uncle out, even though he owns half of the land?

Some information to help: The land based on comps and price per sq.ft. probably support a rough value of about 2-2.5 million. There are mortgages on the property and business left for about 400K. So there is probably around 1.5 million in equity the land.  Half of which would be my father's so let's say 750K.

Other sources of equity/collateral that could be used: My father's homes. My father has a 450K house paid off, and a second home in his name has about 250K in equity and around 200K mortgage on a 450K home.  

1) Based on the assets that my father has is it feasible to finance the buyout? 

2) Does anyone recommend any finance companies that I could work with to determine the feasibility of a loan for this buyout?  

Additionally, if anybody has any experience doing  something like this, I would love to pick your brain. Please feel free to reply or message me directly if you prefer.

Thanks for reading!