ATLANTA, GA –Trez Forman Capital Group has closed a $21.88 million loan for a townhome-style multifamily development in the Atlanta area. The borrower is using the financing to acquire the land and construct a 114-unit project with an amenity center.
The project site is located on Riley Place Drive in Dawsonville, Ga. It was originally developed as individual townhome lots in 2005, with the first 55 townhomes constructed a year later. The rest of the subdivision has remained undeveloped, so the developer is set to breathe new life into the site with its project.
President and CEO Brett Forman arranged the transaction, which closed on Oct. 26.
“We have made our enthusiasm for the Greater Atlanta market well known and continue to seek opportunities in the area,” said Forman. “This particular project has significant competitive advantages, including the unmatched amenity collection and units that are much larger than the market average.”
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 busy first nine months of the year. The venture is on track to close more than a $500 million in deals in 2018.
The company bolstered its Atlanta presence with the hiring of veteran banker and real estate lender Russ Holland as a Managing Director and the opening of a new office in the city.
Trez Forman provides commercial bridge loans for development and construction and senior stretch financing starting at about $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