South Florida-based Trez Forman Capital funded a $19.6 million loan for a 211-acre site located in suburban Tampa. Brett D. Forman originated the loan on behalf of Trez Forman. The borrower is affiliated with Eisenhower Property Group, LLC.
The loan will be used to acquire and develop the site in Riverview, which is already zoned for 781 single-family homes. The developer plans to sell lots to Miranda Homes, Lennar/CalAtlantic, and Pulte to build in four different phases. The site is conveniently located near major highways and retail centers in a fast-growing section of South Hillsborough County, a short drive from Tampa.
“This relationship borrower has a strong track record developing quality residential projects in South Hillsborough County,” said Forman, CEO of Trez Forman. “We think this area has both short-and-long-term viability for success.”
The master-planned community, to be called Ventana, is located at the northeast corner of Fern Hill Drive and Symmes Rd in Riverview, just east of I-75.
Trez Forman is 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. It provides commercial bridge loans for development and construction and senior stretch financing starting at $5 million.
The venture also offers private and institutional investors equity investment opportunities in a variety of funds and assets.
Since the beginning of the year, Trez Forman has closed more than $180 million in new loans including one for $35 million to finance construction of a mixed-use project in Wilmington, N.C. and a $47 million loan for a new active adult rental community in Venice, Florida. The firm expects to close approximately $400 million in new business by the end of this year.
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.