Prominent Central Florida developer Unicorp to utilize funds to deliver much-needed branded luxury residential product
ORLANDO, FLORIDA– (March 21, 2022) Trez Capital, a private real estate lender helping to build better communities across North America, funded a $42,216,473 construction loan for Unicorp National Developments, Inc.’s The Ritz-Carlton Residences, Orlando, Grande Lakes luxury project. The transaction closed March 18.
The Chuck Whittall-led Unicorp, one of Central Florida’s largest developers, is addressing market demand for high-end, branded residences with resort-style amenities. The Ritz-Carlton Residences offers 37 spacious three and four-bedroom residences with pools in a gated community. The project is part of the Grande Lakes master-planned community, which includes the luxury Ritz-Carlton Orlando Grande Lakes resort.
Amenities include a private, owners-only clubhouse, a full-service spa, 18-hole Greg Norman signature golf course, 11 restaurants and bars, children’s activities, water sports, hiking, nature trails and more. Located at 4012 Central Florida Parkway, the project offers easy access to downtown Orlando, Winter Park, Orlando International Airport and the area’s many theme parks and attractions.
Trez Capital Managing Director Ben Jacobson originated the loan on behalf of Unicorp. Jacobson is based in Trez Capital’s Florida office, led by Executive Managing Director, Eastern U.S. Brett Forman.
This is the second significant transaction between Trez Capital and Unicorp since last summer. Jacobson originated a $75.2 million loan for the developer’s 354-unit SOTA 75 rental project in Sarasota in June 2021.
“It is exciting to work with a repeat borrower that has an unparalleled track record for delivering luxury housing in Central Florida and beyond,” Jacobson said. “Orlando’s high-end residential market is underserved. With a world-class brand like The Ritz-Carlton, premier developer and general contractor in Unicorp and Jones Clayton Construction, respectively, and an array of amenities, this project should experience brisk sales activity.”
Orlando is one of the nation’s fastest-growing housing markets, benefitting from domestic migration and nearly 70 million annual visitors. It was one of at least five major U.S. metro areas that saw an annual listing price increase of 18% or more over the past year, according to USA Today. Orlando’s listing prices rose by 20%.
“We are actively targeting opportunities in Orlando and the broader Central Florida region,” Forman said. “Orlando is no longer just about theme parks. It has evolved into a diverse and sustainable real estate market and economy.”
Trez Capital provides short-term debt and equity financing typically between six and 36 months in term, up to $100 million in loan value. In 2021, the company originated $3.9 billion in loan originations with $633 million sourced from the Eastern U.S. region that includes offices in Palm Beach, Florida and Atlanta, Georgia.
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Founded in 1997, Trez Capital is a diversified real estate investment firm and preeminent provider of commercial real estate debt and equity financing solutions in Canada and the United States. Trez Capital offers private and institutional investors strategies to invest in a variety of opportunistic, fully secured mortgage investment funds, syndications, and joint ventures; and provides property developers with quick approvals on flexible short- to mid-term financing.
With offices across North America, Trez Corporate Group has over $4* B CAD in assets under management and has funded over 1,600 transactions totaling more than $14.5 B CAD since inception. The Eastern U.S. team funded nearly $2 B since 2016 and more than $630 million in loans in 2021. For more information, visit www.trezcapital.com. (*Trez Corporate Group AUM includes assets held by all Trez-related entities as well as $2.7 B Manager AUM (Trez Capital Fund Management Limited Partnership)).
