South Florida private direct lender makes big push in Carolinas during first half of 2018

Florida-based Trez Forman Capital Group has continued an aggressive recent push in the Carolinas with the closing of a development site acquisition loan near Wilmington, N.C. The 195-acre property is fully approved as a Planned Unit Development (PUD) with zoning that allows up to 3,200 single-family homes and multifamily units.

Trez Forman President and CEO Brett Forman arranged the transaction.

The developer borrowed $2.5 million that was used towards the $6.250 million purchase price of the site located at the intersection of J.H. Batts Road and Roland Avenue in Surf City. They have a contract to sell lots to a national builder once the land is developed. The master-planned community will be known as Waterside.

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.

This is the third loan that Trez Forman has made in North Carolina this year. In February, East West Partners borrowed $35 million to develop a mixed-use project in Wilmington. Last week, Trez Forman closed on a $17.24 million loan to the same developer in Surf City, who used the money to help purchase a 138-acre residential development site in the Raleigh-Durham-Chapel Hill metro area.

“We are excited to complete these transactions in North Carolina neighborhoods that are ripe for new development,” said Brett Forman, President and CEO of Trez Forman. “We continue to target similar opportunities and are well-positioned to accommodate the demand from developer borrowers.”

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 first quarter highlighted by more than $200 million in completed deals. The venture is projected to close more than $500 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.

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.