The Dallas-based office of Trez Capital announces the closing of a loan for Salt Lake City-based Lotus Company to build the second phase of its newest multifamily development, Republic.
Building upon the success of phase one, the Republic II expansion further demonstrates Lotus Company’s dedication to fostering vibrant and inclusive environments within the city’s urban landscape. This is the seventh project Trez Capital has financed with the Lotus Company, bringing their total to over $100 million in financing to the Salt Lake area.
“Republic II’s strategic location in downtown Salt Lake City will attract residents who seek a vibrant and convenient urban lifestyle. The development will not only provide much-needed housing options in the area but will also contribute to the local economy and job market,” said Jason Stowe, vice president of origination at Trez Capital. “Trez Capital has been very active in this region with our partners at Lotus Company, and we have witnessed the transformation of this city. As our seventh deal with Lotus Company, this project reinforces our commitment to shaping and growing thriving communities in the region.”
The Lotus Company, recognized for thoughtful design and sustainability, is an award-winning property venture and hospitality organization mastering urban infill and revitalization, large-scale residential and commercial mixed-use projects as well as best-in-class hospitality projects that include brewing, distilling and roasting, in addition to bar and restaurant ownership. The company has developed over 5,015 multifamily units with an additional 399 units currently under construction throughout Utah.
“Republic and Republic II are exciting new additions to the budding Lotus District in downtown Salt Lake City, providing much-needed vibrant neighborhood spaces. With the introduction of Citizens Cocktails and Kitchen and another hospitality venture on the ground floor of Republic II, we anticipate this district will start to take on our vision in no time,” said Bryan Wrigley, founder and CEO of Lotus Company.
Trez Capital provides private financing to property developers for a variety of purposes including acquisition, refinancing, horizontal development, vertical development, land banking/lot banking and bridge financing on property deemed suitable to our investment strategy, namely: tracts and properties of all sizes and types (multi-family, single-family residential lot development, mixed-use, select serve hospitality, self-storage, industrial and retail).
