Plans call for construction of 415 single-family homes on 158 acres in Surf City

Wilmington, NC/Palm Beach, Fla. – Feb. 25, 2019 –Trez Forman Capital Group has completed a $20.8 million loan for a significant single-family residential development on 158 acres in Surf City near Wilmington, N.C. The financing pays off an existing $2.5 million land loan provided to the borrower by Trez Forman and covers land development costs for 415 single-family lots.

The transaction closed on February 15. Trez Forman President and CEO Brett Forman arranged the transaction.

Major homebuilder DR Horton has a contract to purchased 170 of the single-family lots from the borrower, who plans to secure a buyer for the remaining 245 lots. The site is located at the intersection of Belt Road and NC Highway 50. It is conveniently positioned near a new Publix, 1.5 miles from the beach, with access provided by a new 3,600-foot bridge that opened in December 2018.

The master-planned community will be known as Waterside.

“This transaction continues our aggressive push into North Carolina neighborhoods that have substantial opportunities for new development,” Forman said.  “It is exciting to expand our relationships with our developer borrowers and continue to support their transformative projects.”

Surf City is particularly attractive to buyers from the nearby Marine Corps Base Camp Lejeune facility, which has more than 47,000 personnel. It also serves as a convenient in-between location for families working in Jacksonville, NC and Wilmington, NC.

Trez Forman is a joint venture formed in 2016 by Palm Beach, Florida-based Forman Capital and Vancouver-based Trez Capital Group - one of Canada’s largest private commercial mortgage lenders. Last year, the venture closed $550 million of loans.

The venture provides commercial bridge loans for development and construction and senior stretch financing, starting at about $5 million. It also offers private and institutional investors equity investment opportunities in a variety of funds and assets.

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About Trez Forman Capital Group:  Founded in 2016, Trez Forman 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. Trez Capital has originated approximately $10 billion in loans since its inception. For more information, visit www.trezforman.com.

Private lender funds construction completion of 247-unit apartment building in prime location

Trez Forman Capital Group funded a $48.65 million construction loan to allow for the completion of a 15-story, 247-unit luxury apartment building in Hollywood, Fla. Borrower Hollywood East, LLC is reviving construction of the 2165 Van Buren St. building, which was previously planned as a condominium project.

The project is located on 1.68 acres adjacent to a proposed station for Brightline, which recently announced a planned rebranding as Virgin Trains USA following an investment from business magnate Richard Branson. Hollywood East took over the project in 2017 and expects to complete the apartment building within 18 months. Kaufman Lynn Construction is the general contractor.

A previous owner had constructed a 13-story concrete shell in 2015. Hollywood East is working on concrete remediation as the first step in finishing construction. The completed building will include 4,753 square feet of ground-floor retail space and a 443-space parking garage.

Trez Forman President and CEO Brett Forman arranged the loan, which closed on Dec. 11.

“It was a pleasure to work with a borrower that has a vision and clear plan to deliver this long-anticipated project,” said Forman. “Hollywood is an extremely strong multifamily submarket, fueled by its central location within the tri-county area, access to global markets and a multicultural workforce and proximity to transit and major highways. Demand from renters for this product should be high.”

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 Hollywood transaction continues the momentum from a busy first 10 months of the year. The venture has closed more than $500 million in deals in 2018.

Trez Forman provides commercial bridge loans for development and construction and senior stretch financing, starting at about $5 million. It also offers private and institutional investors equity investment opportunities in a variety of funds and assets.

Plans call for 114 townhome-style units with amenity center in Dawsonville, Georgia

Palm Beach, Fla. and Atlanta, Ga. – Nov. 1, 2018 –Trez Forman Capital Group has closed a $21.88 million loan for a townhome-style multifamily development in the Atlanta area. The borrower is using the financing to acquire the land and construct a 114-unit project with an amenity center.

The project site is located on Riley Place Drive in Dawsonville, Ga. It was originally developed as individual townhome lots in 2005, with the first 55 townhomes constructed a year later. The rest of the subdivision has remained undeveloped, so the developer is set to breathe new life into the site with its project.

President and CEO Brett Forman arranged the transaction, which closed on Oct. 26.

“We have made our enthusiasm for the Greater Atlanta market well known and continue to seek opportunities in the area,” said Forman. “This particular project has significant competitive advantages, including the unmatched amenity collection and units that are much larger than the market average.”

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 latest activity continues the momentum from a busy first nine months of the year. The venture is on track to close more than a $500 million in deals in 2018.

The company bolstered its Atlanta presence with the hiring of veteran banker and real estate lender Russ Holland as a Managing Director and the opening of a new office in the city.

Trez Forman provides commercial bridge loans for development and construction and senior stretch financing starting at about $5 million. It also offers private and institutional investors equity investment opportunities in a variety of funds and assets.

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About Trez Forman Capital Group:  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.

 Trez Forman Capital Group has hired veteran banker and real estate lender Russ Holland as a Managing Director.  He will be opening an Atlanta office and be responsible for creating new business relationships for the private commercial real estate lending firm headquartered in Palm Beach, Fla.

 “I have known Russ Holland for many years; he and I did business when he was a banker,” said Brett Forman, president/CEO of Trez Forman.  “I am impressed with his candor, transparency and creativity which are attributes not just important, but critical to our company.   Combining that, with his deep roots in the Atlanta market and industry, will make him successful in establishing Trez Forman in Atlanta and beyond.”

“I am excited to be a part of the Trez Forman team as we solidify our commitment to the Atlanta market, expanding our shared commitment to integrity, creativity and reliability,” said Holland. ”I look forward to introducing the firm to serve the needs of borrowers and brokers with the highest level of respect and transparency.”

Holland has held senior level executive positions at numerous banks in the Southeast U.S. and New York over the past three decades, leading the origination of more than $6 billion in commercial loan transactions. 

Immediately prior to joining Trez Forman, Holland served as Chief Credit Officer at Fieldpoint Private in New York where he was responsible for the consumer and commercial credit functions of an ultra-high net worth bank serving the Northeast U.S. and Florida. 

As Chief Lending Officer at Union Bank in Florida, Holland led a strategy to grow the loan portfolio by more than 50 percent annually.   When he was Chief Banking Officer and Chief Lending Officer at Seacoast Bank, he played a key role in re-capitalizing the bank during the financial crisis and created a plan that generated more than $350 million in new commercial relationships, supporting the institution’s return to profitability.

In Atlanta, Holland led the commercial real estate finance team at Bank of America and later served as Chief Credit Officer of SouthCrest Bank, where he developed the bank’s credit processes, positioning the bank for growth in the metro-Atlanta market. 

In addition to his banking experience, Holland also served as Chief Financial Officer of a Miami-based REIT in Miami.    

He began his career with KPMG in New York after graduating from Wake Forest University with a degree in accounting.

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.

Palm Beach, Fla. and Charlotte, N.C. – July 6, 2018 –Trez Forman Capital Group has closed a $42 million construction loan for a large-scale residential development in the Charlotte, N.C. suburb of Huntersville. The borrower plans to develop a Class A, 20-building community with 297 units – mostly garden-style apartments with a mix of for-rent townhomes.  

Trez Forman President and CEO Brett Forman arranged the transaction, which closed on July 5.

Caldwell Station NC, LLC is the borrower. The company’s development will also include 371 parking spaces and an array of amenities, such as a resort-style saltwater pool, clubhouse, fitness/cardio studio, lounge area and dog park.

The 17355 Old Statesville Road project site is in close proximity to the Northcross Shopping Center, which is home to Harris Teeter, Homegoods, Lowe’s Home Improvement, Petco, Staples and many more retailers. Numerous restaurants and hotels are only a few minutes away.

This is the fourth loan that Trez Forman has made in North Carolina this year as part of its efforts to increase its presence in the Carolinas.

In February, a developer borrowed $35 million from the lender to develop a mixed-use project in Wilmington.  In May, Trez Forman closed on a $17.24 million loan for the acquisition of a 138-acre residential development site in the Raleigh-Durham-Chapel Hill metro area. Around the same time, the lender completed a $2.5 million acquisition loan for a 195-acre residential development site in Surf City. 

“It is exciting to continue our Carolinas activity with this Huntersville transaction,” said Forman. “This is a suburban submarket with a strong appetite for Class A apartment product. We continue to target similar opportunities in the region.”

For Trez Forman, a joint venture formed in 2016 by Boynton Beach-based Forman Capital and Vancouver-based Trez Capital Group - one of Canada’s largest private commercial mortgage lenders, the latest activity continues the momentum from a first quarter highlighted by more than $200 million in completed deals. The venture is on track to close more than a half-billion dollars in deals in 2018.

Trez Forman provides commercial bridge loans for development and construction and senior stretch financing starting at about $5 million. It also offers private and institutional investors equity investment opportunities in a variety of funds and assets.

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About Trez Forman Capital Group:  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.

Media Contact: Todd Templin and Eric Kalis

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