Development benefits from neighborhood’s central location and proximity to Flagler Village and downtown
(Fort Lauderdale, FL/Palm Beach, FL)— Trez Forman Capital provided financing for a boutique luxury townhome project to be developed in Fort Lauderdale’s Victoria Park neighborhood. The borrower plans to build four 3,200-square-foot townhomes across two adjacent properties at 808-810 and 812-814 NE 17th Ave.
The $2.08 million transaction closed on July 25, 2019. Trez Forman President/CEO Brett Forman originated the loan.
Borrower 808 VP, LLC owns the properties, which have been cleared for construction of the townhomes.
Located immediately east of Fort Lauderdale’s burgeoning Flagler Village neighborhood and near downtown Fort Lauderdale, Victoria Park is increasingly gaining appeal for its small-town charm while being close to the city’s urban core.
“We were particularly attracted to Victoria Park’s strategic location both within Fort Lauderdale and centrally in the tri-county area of South Florida,” Forman said. “Although the transaction is smaller than typical, it is a borrower relationship we look forward to expanding in the future.”
The four townhomes will have three bedrooms, three-and-a-half bathrooms, a two-car garage, rooftop terrace and outdoor grill area. Interior features include 10’ ceilings, imported porcelain tiles, in-unit washer and dryers, walk-in closets and smart-ready safety and security.
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.
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About Trez Forman Capital: Founded in 2016, Trez Forman Capital is a Palm Beach, 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. Trez Forman has funded nearly $1 billion in loans since inception. 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 Palm Beach-based Forman Capital and Trez Capital Group, one of Canada’s largest private commercial mortgage lenders with approximately $3 billion in committed capital. Trez Capital has originated approximately $10 billion in loans since its inception. For more information, visit www.trezforman.com.
