South Florida private direct lender projected to generate $400 million in deals this year
Trez Forman Capital Group closed new transactions at a blistering pace in the first quarter of 2018. The company, which is among South Florida’s largest private lenders, completed more than $200 million in deals during the three-month span.
For Trez Forman, a joint venture formed in 2016 by Palm Beach-based Forman Capital and Vancouver-based Trez Capital Group - one of Canada’s largest private commercial mortgage lenders, the first-quarter activity built off of the momentum from a busy 2017. The venture is projected to complete more than $400 million in deals in 2018.
Trez Forman provides commercial bridge loans for development and construction and senior stretch financing starting at $5 million. It also offers private and institutional investors equity investment opportunities in a variety of funds and assets.
“We are certainly off to a great start in 2018, and that is a testament to our dedicated team of originators, analysts, associates and support staff,” said Brett D. Forman, President and CEO of Trez Forman. “We were able to continue funding desirable new projects throughout Florida while also expanding into new markets throughout the Southeast and mid-Atlantic.”
Trez Forman’s first quarter included transactions in the tri-county area of South Florida, Tampa, Atlanta, Philadelphia and Wilmington, N.C.
In February, the company closed an $85 million construction loan to a Fort Lauderdale joint venture that plans to develop 4 West Las Olas, a riverfront 260-unit luxury rental project with approximately 12,000 square feet of retail and 387 parking spaces.
Other first-quarter transactions included:
· A $44.8 million loan to finance construction of a baby boomer-oriented residential community in Venice, Fla.
· A $35 million loan for the developer of a mixed-use project on the Cape Fear River in downtown Wilmington, N.C.
· A $19.6 million loan for a 211-acre suburban Tampa site that will be sold to major homebuilders for single-family projects
· A $13.5 million loan for a townhome development in suburban Atlanta.
· A $6.75 million loan to finance construction of a multifamily community in Philadelphia
Going forward, Trez Forman is aggressively targeting new opportunities in the industrial and hospitality sectors as well as growing its team.
Founded in 2016, Trez Forman Capital is a Florida-based commercial bridge lender for development and construction, senior stretch first mortgages and special situations nationwide. It provides developers and property owners with quick approvals on flexible short to mid-term financing from $5M to $75M. The company also offers private and institutional investors equity investment opportunities in a variety of funds and assets. Trez Forman is a joint venture between Brett Forman’s mortgage lending firm, Forman Capital, and Trez Capital Group, one of Canada’s largest private commercial mortgage lenders. For more information, visit www.trezforman.com.