Single Family Construction | $16,000,000 | Burlington, NC
Trez Forman Capital provided a $16 million financing package to a well-known regional home builder to help fund construction of a new residential community called Huffman Point in Burlington, NC. Fixed Point Homes plans to build 65 single-family detached homes at 3040B Longpine Road. The company will use approximately $3 million of the loan proceeds to prepare the 49-acre parcel for lot development and a $13-million revolving line of credit to fund home construction. Huffman Point will feature four floor plans, all approximately 2,800 square feet. Each home will have between 3-4 bedrooms and 2.5-3 bathrooms. Prices start at $327,000. The borrower is Burlington Grand Oaks, LLC, a subsidiary of Diamondback Investment Group. Brett Forman, CEO of Trez Forman, arranged the loan which closed June 5th.