Palm Beach

1501 Corporate Dr

Suite 240

Boynton Beach, FL 33426

T: 561.588.0132

Atlanta

 

3414 Peachtree Rd NE

Suite 270

Atlanta, GA 30326

T: 772.233.0303

Vancouver

745 Thurlow St

Suite 1700

Vancouver, BC V6E 0C5

T: 604.689.0821

Toronto

401 Bay St

Suite 1404

Toronto, ON M5H 2Y4

T: 416.350.1224

Dallas

5055 Keller Springs Rd

Suite 500

Addison, TX 75001

T: 214.545.0951

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*All figures on this website are denoted in USD$

HISTORICAL TRANSACTIONS

Lot Development | $20,845,009 |  Surf City (Wilmington MSA), NC​

Plans for a residential home development in Surf City are moving forward with a $20 million loan to develop 415 single-family homes at the intersection of Belt Road and N.C. 50. Surf City Properties LLC borrowed $20.8 million from Trez Forman Capital Group to pay off a previous $2.5 million loan provided by Trez Forman for the land purchase and to cover development costs for construction of the homes, according to a news release. The development, known as Waterside, was previously owned by Coterra until Surf City Properties purchased the 197 acres for $7 million in May. D.R. Horton, a homebuilder, has a contract to purchase 170 single-family lots at Waterside from Surf City Properties, which plans on securing another buyer for the remaining 245 lots.

Townhome Construction | $3,935,000 | Delray Beach, FL

Coming Soon

Multifamily Construction | $20,500,000 | Burlington, NC

The mixed-used project called St. Marks will feature 183 garden-style apartments and retail space.  The seven-acre site located at 1172 St. Marks Church Road will include an array of desirable amenities such as a saltwater pool, clubhouse, fitness and cardio studio, lounge area and dog park. 

In July of last year, Diamondback secured a $42 million loan from Trez Forman to construct a 297-unit apartment community and for-rent townhomes in Huntersville, a suburb of Charlotte.  It was one of six loans Trez closed in the Carolinas in 2018.

Multifamily Construction | $48,650,000 | Hollywood, FL

The financing is to provide $48.65M in financing for completing construction of a 15 story multifamily rental building. The proposed improvements include a 15 story apartment tower comprised of 247 units and an additional 4,753 square feet of retail. There project will include a parking garage with 443 parking spaces. The Subject Property is currently a 13-story concrete shell which was originally a condominium project that broke ground in March 2015. The Borrower purchased the note, settled with most of the condo purchasers, and has begun concrete remediation. The Borrower is continuing the construction on the building and is scheduled to complete the 15-story structure by December 2019. The lease up of the building is expected to take 12 months. The building will top out at 15-stories and consist of the aforementioned 247 multifamily units, a 4,753 square foot retail space on the ground floor, and a parking garage with 443 parking spaces.

Pre-Development Land | $4,900,000 | Boynton Beach, FL

The borrower is acquiring the land with proceeds from the loan. The borrower plans to develop a 285-unit Continuing Care Retirement Community consisting of 192 Independent Living units, 53 Assisted Living units, and 40 Memory Care units. The subject property was recently approved by the Palm Beach County Planning, Zoning and Building Department. The primary exit for the Trez Forman loan is a project take-out from construction financing. The borrower will continue architectural and construction drawings and market the property for a construction loan. The senior housing market continues to perform well and to attract substantial global investor interest. Senior housing demand will continue to be driven by several factors including the aging of baby boomers, a stable housing market and an attractive spread between lending rates and capitalization rates.

Lot Development | $4,331,425 | Raleigh-Durham, NC

Trez Forman Capital Group continues its push in the Carolinas by funding a loan to develop a 49-acre parcel into a single-family residential community. The property’s owner borrowed $4.3 million that will be used to prepare the 92-lot-site for building and will then sell it to DR Horton.
The community, known as Amberleaf, is located at 2586 North Carolina 56, Creedmoor, North
Carolina. Brett Forman, president, and CEO of Trez Forman arranged the loan which closed
January 30th.
 

Multifamily Construction | $42,000,000 | Charlotte, NC

Palm Beach, FL-based Trez Forman reports it has closed on its fourth financing deal in North Carolina this year, a $42-million construction loan for the 20-building, 297-unit multifamily development in this Charlotte suburb. The transaction in Huntersville, which closed on July 5, is the largest financing deal for Trez Forman in North Carolina this year. So far in 2018, Trez Forman has lent approximately $98 million in construction and acquisition financing for North Carolina residential projects.

The project will also include 371 parking spaces and amenities like a saltwater pool, clubhouse, fitness and cardio studio, lounge area and dog park.

Multifamily Construction | $6,959,603 | Astoria, NY

Construction loan to develop a 20-unit multifamily rental apartment building. The building will be a luxury rental, on par with similar buildings in the area. Furnishes include wood floors, quartz countertops, stainless steel appliances, and high ceilings. The building will also include a virtual doorman and package locker. Additional amenities include a rood deck, on-site storage cages, bike storage, laundry facilities, and 10 underground parking spaces. This is Trez Forman’s first loan in New York.

Lot Development | $3,600,000 | St. Augustine, FL

The lot development loan is for the infrastructure development of Wards Creek at Arbor Mill, fully entitled for 67 single family lots. Wards Creek is one of the last communities to be developed in Arbor Mill. Ashley Homes and Drees homes are the homebuilders. Arbor Mill community features include a clubhouse, swimming pool, tennis court, soccer field and park.

 

The project is located in St. Augustine, FL, a bedroom community within the Jacksonville MSA. Unemployment is at 3.3% in the Jacksonville MSA, which is the lowest in more than a decade.

Land & Lot Development | $19,054,000 | Lakewood Ranch, FL

Solara is an entitled and site plan approved vacant piece of land which will be developed into a total of 675 single family home lots. The sponsor bought the land for $9,350,000 and will subsequently perform all of the horizontal development for the first 330 lots to deliver to a national homebuilder. The 279-acre community will contain over 675 units with a variety of amenities designed to make it an attractive place to live for people with various income levels and at various life stages. Solara will emphasize affordability & accessibility. The homebuilder will provide four different product lines to the community. This is Trez Forman’s 4th lot development loan in the Bradenton area.

Multifamily Construction | $21,880,000 | Dawsonville, GA

The loan is to provide financing to acquire the land and construct a 114-unit townhome style multifamily community with amenity center. The property was first developed as individual townhome lots in 2005 and the first 55 townhomes were constructed in 2006. The remainder of the subdivision has remained vacant townhome lots since before the recession. The townhome style, single family home community feel, and unit sizes that are significantly larger than the average apartment unit in the market are the competitive advantages for the Subject Property. Additionally, most townhome home developments in the area do not have amenities.

Land & Lot Development | $5,000,000 | Creedmoor, NC

The borrower secured the loan to develop 48.6 acres of vacant land in Creedmoor, NC. The land will be developed into 92 single-family lots by a national home builder. The site was formerly agricultural and woodland land with a few abandoned structured that will be cleared during development. Service work is currently underway on the subject site. 

The City of Greedmoor saw strong population growth, increasing by 48.4% from 1990-2000 and by 85% from 2000-2010. Granville County is considered in the Research Triangle CSA.

Pre-Development Land | $4,750,000 | Charlotte, NC

The loan is to provide financing to retire existing debt, pay for an additional 1.05 acres from the Charlotte DOT, and provide working capital for another sponsor-related project.

 

The borrower acquired the subject land in 2013 as part of a larger land purchase, approximately 36 acres. The subject land is fully entitled for 390 multifamily and/or dormitory units. The sponsor is also planning to incorporate a commercial component on the property.

 

The land directly behind the subject property was used by the same sponsor to develop a 202-unit, 737-bed student housing facility to house UNC Charlotte students.

Pre-Development Land | $2,500,000 | West Lake, LA

The Borrower secured an acquisition loan in the amount of up to $2.5M on a 91-acre piece of vacant land which is entitled and site plan approved for 362 single-family lots, located in West Lake, Louisiana. The Subject Property and Additional Collateral are located within the master planned community known as West Trace which is home to the existing National Golf Club of Louisiana.

 

The general area has exhibited strong economic and employment growth due to the rapid growth of the natural gas industry. Sasol and Conoco Phillips both have multi-billion dollar facilities within 5 miles of the Development that employ thousands of workers.

 

The West Lake subdivision also has an external amenity of parks, playgrounds, and baseball fields located on the northeast corner of the Property. The City of West Lake will be building a $19 million recreational center along with new parks and fields on the 30 acres of land next to the Borrower’s Phase II land. The existing parks and baseball fields will be given to the local school to build a new campus.

Land & Lot Development | $13,847,439 | Lakewood Ranch, FL

The loan is for the acquisition of a 140-acre vacant land parcel, fully entitled for 417 single family lots, and the subsequent development of the 417 lots. All 417 lots are under contract from a national homebuilder, and will be completed in two phases (222 lots, then 195 lots).

 

The agricultural land uses have become less prevalent, however, as the Sarasota/Bradenton market pushes north towards its inevitable meeting with the Tampa market that is pushing south, and to the St. Pete/Clearwater market expanding east across the bay.

 

Looking forward, Manatee County's population is projected to increase at a 1.5% annual rate from 2016-2021, equivalent to the addition of an average of 5,626 residents per year. Manatee County's growth rate is expected to exceed that of Florida, which is projected to be 1.2%.

Mixed-Use Construction | $16,635,052 | Raleigh-Durham, NC

The borrower closed on the swath of land that once held a theme park similar to the present-day Tweetsie Railroad in Blowing Rock. The current 57.39-acre site includes two retail centers and has the land capacity for additional mixed-use commercial real estate development. The first phase of Collins Ridge, a current Trez Forman loan, consists of 880 residential units and will be constructed directly behind the Daniel Boone Village, along the north side of I-85. These units include 322 townhouses, 238 single-family homes and a 320-unit apartment community.

Mixed-Use Commercial Acquisition | $4,100,000 | Miami, FL

The loan is to provide the purchase of an existing mixed-use office and retail building. The subject property consists of a class C, 8-story building with  15,936 net rentable square foot that was constructed in the early 1900's. The borrower plans to continue to manage the property and perform some capex to the building.

Multifamily Construction | $41,980,000 | Huntersville, NC

Trez Forman reports closed on its fourth financing deal in North Carolina this year, a $42-million construction loan for the 20-building, 297-unit multifamily development in this Charlotte suburb. The transaction in Huntersville, which closed on July 5, is the largest financing deal for Trez Forman in North Carolina this year. So far in 2018, Trez Forman has lent approximately $98 million in construction and acquisition financing for North Carolina residential projects.

The project will also include 371 parking spaces and amenities like a saltwater pool, clubhouse, fitness and cardio studio, lounge area and dog park.

Pre-Development Land | $5,850,000 | Hollywood, FL

The loan is to provide working capital for the continued operation of a sister project for the sponsor. The subject property is a 1-acre land site, approved for a development consisting of 166 rental apartment units, a 103 key hotel, 14,320 square feet of ground floor retail and office, and a 398 space parking garage.

Condominium Construction | $20,586,543 | Delray Beach, FL

Trez Forman Capital closed on a $20.59 million construction loan for a luxury condominium project on 1.12 acres located one block from famed retail, restaurant and entertainment destination Atlantic Avenue in Delray Beach. The borrower plans on developing a five-story building with 70 residences and ground-floor retail. The project, called 111 First Delray, will have full amenities including a pool with cabanas, recreation deck, covered open-air lounge, summer kitchen, bar, billiard tables and a fitness center. The pet-friendly building also features secured gated parking, bicycle valet, private storage, electric car charging stations and an atrium lobby.

Townhome Construction | $16,500,000 | Boynton Beach, FL

The borrower secured the $16.5 million loan from Trez Forman, which will cover the land and development of the townhomes. The 14 townhomes will be three stories tall and include an elevator, rooftop deck, splash pool and two-car garage. They will have three bedrooms, four-and-a-half bathrooms in 3,400 square-feet.​

Land Acquisition | $3,500,000 | Palm Beach, FL

The borrower will use proceeds to purchase the property at 251 Dunbar Street and tear down an existing 3,536 sq ft house built in 1955.  He then plans replacing it with a 8,500-square-foot custom spec home that is compatible with the surrounding neighborhood. The property is located a quarter mile from The Breakers and two miles north of Worth Avenue. The borrower has executed this business plan three other times on the Island of Palm Beach.

Land & Lot Development | $17,200,000 | Raleigh-Durham, NC

The development was recently approved for a $17.2 million loan from the Florida-based Trez Forman Capital, which will be used to purchase the 138-acre tract of land. 

The new developer will carry out all “horizontal improvements,” and turn the land into lots, which may be purchased by home builders to construct vertically. This ground-level work includes land grading, utility installation, construction of any parks, street paving, and various other projects. Once this is completed, townhouses and apartments will be constructed. 

 

Though Caruso Homes is no longer the primary owner, they will still build homes on a portion of the land once the space is sectioned into lots that can be purchased. DR Horton, the largest home builder in the nation, will also build units on the site. This contract with DR Horton to purchase single-family and townhome sites was appealing to the lender. 

Land Acquisition | $2,500,000 | Surf City, NC

Trez Forman Capital 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.

The Borrowers paid $2.5 million for the site, which is 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.

Condo Construction | $17,000,000 | Fort Lauderdale, FL

The loan is for the construction of a condo building in Ft. Lauderdale, Fl. Improvements will consist of two 5-story towers with parking on the first level and four levels of residential units. Additionally, the improvements will include a pool and 2-story clubhouse with lounge and fitness center including a sauna. Each unit includes: two levels of living space, oversized balconies, private elevators, 9’10” ceiling heights, his and hers walk-in master closets, 2 parking spaces per unit, and high-end appliances. Sponsorship is comprised of Cavache Properties, LLC based in Pompano Beach, FL. The company is comprised of well-known and seasoned management, board members, and investors who have collectively developed over $2.5 billion in commercial and residential real estate, representing over 5,000 residential units and millions of square feet of office and retail space. The borrower has begun site work.

Multifamily Construction | $13,500,000 | Hiram, GA

The borrower plans to construct a 115-unit townhome-style multifamily community with amenity center. The property will have 115 garages and 230 surface parking spaces. The townhomes are two stories, adjoined, and will have a one or two car attached garage. It will also have a 2,800 sf clubhouse with a zero entry pool, outdoor cooking station, dog park, cardio room, lodge room, and a wifi café as well as a management office.

Land & Lot Development | $19,612,121 | Riverview, FL

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.

Multifamily Construction | $85,634,000 | Fort Lauderdale, FL

Fort Lauderdale developer Elevate Partners just closed on an $85 million construction loan for a luxury rental tower, property records show. The developer, along with NCC Development Group, plans to build 4 West Las Olas, a 25-story, 260-unit luxury apartment building at 305 South Andrews Avenue. The riverside apartment building will have studios, one, two and three-bedroom units managed by Greystar and about 5,000 square feet of retail space on the corner of Las Olas Boulevard and Andrews Avenue. Briny Irish Pub will stay in the ground floor of the adjacent parking garage, which the developer is incorporating into the new project. The popular tavern is leasing about 6,000 to 7,000 square feet.

Multifamily Construction | $44,832,133 | Venice, FL

The borrower is using the financing to develop a 309-unit active-adult project called The Floridian Club of Sarasota in Venice, Florida. Plans call for 261 spacious single-story attached villas and 48 three-story units served by elevator.  All have 1-2 bedrooms and 1-2 baths. Floor plans range in size from 991 square feet to 1,339 square feet.  The villas offer an optional 1-car garage. The Floridian Club is replete with resort-style amenities including an infinity-edge pool and separate lap pool, fitness center, café, club room, pickleball courts, guest suites, business center, outdoor barbecue area, pet spa and walking/running trails that encircle a conservation area.

Mixed-Use Construction | $35,000,000 | Wilmington, NC

River Place, a mixed-use project under development by East West and the city of Wilmington as part of a public-private partnership, will include 92 luxury condominiums, 79 apartments and 32,000-square-feet of retail space in a 13-story structure at 200 North Water St. It will also include 403 parking spaces and is expected to be complete by 2020. The project is projected to be the most desirable residential building in the city, with river views, walkability to amenities, high end finishes, open floor plans, and covered parking. Downtown Wilmington provides a walkable urban environment with cafes, restaurants, shops, bars, an upscale grocery store, and marina all within a short walk from the Property. The Property is located approximately 5 miles from the University of North Carolina Wilmington and 5 miles from Wilmington International Airport. The beaches along the Atlantic Ocean are approximately 15 minutes away.

Mixed-Use Construction | $6,750,000 | Philadelphia, PA

The loan is for the development of a mixed-use project located in Philadelphia. The borrower plans to develop a six-story, 50-unit apartment building with 5,500 square feet of ground-floor commercial space on a 14,625-square-foot site at 1413 Germantown Ave. The target market will be primarily millennials. The property has a Walk Score of 93, and will include some garage parking, a fitness center, bicycle storage, plus a full amenity package for the units, is also desirable by the Millennial market. This is the first time Trez Forman has done business in the state of Pennsylvania.

Land & Lot Development | $14,676,000 | St. Augustine, FL

The financing is to provide an acquisition and development loan to purchase vacant land and develop over 300 single family, age restricted residential lots. The property will feature an amenity center with state of the art fitness equipment, tennis and pickle ball courts, walking/biking trails, and a swimming pool. The borrower has a contract with a home builder to purchase the lots, once developed. St. Johns County and St. Augustine received some notable accolades including Forbes Top 25 Best Places to Retire, Florida's Healthiest County 2017, Top-ranked Florida Public School System, and the #1 County in Florida for quality of life by the New York Times.

Mixed-Use Construction | $74,800,000 | Orlando, FL 

The loan will be used for the ground-up construction of a single 25-story tower known as Tremont Plaza. In all, it will feature 200,000 sq ft of new Class A office space, a ground-level restaurant, a bar/lounge called Sky Terrace, an integrated multilevel parking garage with a train station-type lobby connected to the Church Street Station SunRail. The loan was lent to a large national developer, who is in contract with a proven hospitality partner. The developer will handle the development of the building shell, while the hospitality partner will handle the interior buildout.

Land & Lot Development | $15,250,716 | Manatee County, FL

The financing of this property is for the acquisition of a 242 acre, vacant land parcel, fully entitled for 550 single family residential lots and for the development of the first 450 of these lots. A large home builder is in contract with the borrower to purchase all lots. The amenities and off-site work for the community will consist of a clubhouse, pool, "Freedom Pad" (green space for recreation), a playground, and a fitness center. The location is a semi-rural, but growing part of manatee County. It's situated 15 miles NE of Sarasota, 24 miles SE of St. Petersburg, and 42 miles S of Tampa. 

Mixed-Use Development | $23,150,000 | Plantation, FL

Financing was provided for the redevelopment of the former 32 acre Fashion Mall into a mixed-use project. Specifically, development of the horizontal infrastructure and repairs to an on-site, pre-existing 2,600 space parking garage will occur. The loan will cover both hard and soft development costs for the project. The property was formally a 660,000 sq ft shopping mall, which has since been demolished. The developer describes the plan for the new retail center as a lifestyle center, with a balanced mix of small retailers, restaurants and entertainment. It's designed to be pedestrian friendly.

Single-Family Refinance | $5,100,000 | Manalapan, FL

This loan is to provide a $5.1M cash-out refinance on an investment waterfront single family residence on the east coast of Florida. The property consists of a magnificently renovated single family residence, totaling 9,835 sq ft under air, with 8 bedrooms and 10 bathrooms. The home was originally built in 2004 and has recently undergone a complete renovation with a large addition. The borrower plans to use the net proceeds from the loan to purchase another investment property on the Island of Palm Beach.

Mixed-Use Refinance | $3,500,000 | North Miami Beach, FL

This loan is to provide a $3.5M cash-out refinance of an existing mixed-use office and retail building. The property consists of a 24,000 net rentable sq ft Class C office and retail building which was constructed in 1968. The tenant mix mostly consists of executive office tenants and ground floor retail. The property is located in an area of Miami with high traffic flow and is undergoing a lot of redevelopment. The borrower plans to continue to manage the property, perform some capex, and either refinance, sell or redevelop.

Multifamily Value-Add | $2,625,000 | Titusville, FL

The project consists of a 96 unit Class C rental complex which was constructed in 1967. The loan is to provide an acquisition and renovation on a 24 month term. The property's rents are below market due to numerous reasons by the past seller. The borrower plans to purchase the asset and implement a new marketing campaign, new management strategies, and continue interior renovations. The property is located along Florida's Space Coast. The Space Coast is undergoing revitalization with significant new developments and major employers entering the area, including growth in the high-tech corridor based on its proximity to NASA's Kennedy Space Center.

Land & Lot Development | $10,400,000 | Palmetto, FL

This transaction consists of 148 acres of land, fully entitled for 299 single-family residential home lots. The property is currently unused agricultural land that was previously planted with trees to be used in various landscape projects throughout the Tampa Bay Area. The borrower has requested a first mortgage to assist in the acquisition of the property, development costs of Phase 1A (95 lots) and associated financing costs. The borrower has a contract with a well-known national home builder for the purchase of all 299 residential lots to be taken down over the course of a specific take down schedule.

Multifamily Value-Add | $9,100,000 | New Orleans, LA

The project consists of six apartment complexes: two stabilized apartment communities consisting of 196 units (Pascagoula, MS), and four value-add assets  projected to have 207 units (New Orleans, LA). The loan request is to pay off an existing first mortgage and to provide rehab construction financing to repair four apartment complexes in New Orleans, LA that were damaged by Hurricane Katrina and are currently uninhabitable. Both the Mississippi and New Orleans apartment complexes are Class C product, with minimal amenities and a basic fit and finish. They adequately serve their communities which primarily serve working class, blue collar, or low income families.

Land & Lot Development | $4,426,804 | Hillsborough County, FL

A cash out refinance project consisting of three land parcels located in Hillsborough County, Florida. Hillsborough County is considered one of the most active counties in the Tampa market. Tampa is home to numerous theme parks and sports venues with an active downtown. Over the course of the last ten years the borrower has been assembling the parcels and obtaining residential zoning. One of the parcels is under contract to be sold to a large national home builder who is actively building in the surrounding neighborhoods.

Condominium Construction | $14,557,938 | Santa Rosa Beach, FL

A to-be built beachfront luxury condominium, located in the panhandle of Florida. This property sits directly on the beach along the greater Emerald Coast of Florida. It is currently unimproved vacant land which will be developed into a 14-unit luxury condominium building with four levels of residences, rooftop terraces and 34 parking spaces on the ground floor. With the proceeds of this loan, the borrower is acquiring three land parcels to develop this condominium with 38,220 saleable square feet.

RV Park Acquisition | $3,850,000 | Charlotte, NC

An acquisition of a RV Park for an experienced operator, located at the base of the Blue Ridge Mountains in North Carolina. The RV Park contains 117 RV pad sites and 7 cabins for a total of 124 rental units. Park amenities include an 18-hole min-golf course, a 5-acre lake for paddle boats, kayaks and fishing, a playground, a Jr. Olympic swimming pool, a kiddie pool, and a 300-foot water slide. Additional funds were provided to expand the park by 25 RV pad sites and purchase and install 10 "to rent" cabins.

Land & Condominium Construction | $20,810,000 | Coconut Grove, FL

A to-be built condominium project located in Coconut Grove, the southernmost edge of the city of Miami within the greater Miami-Dade County. Coconut Grove is one of the first neighborhoods of Miami, known for its lush green landscape and historical significance. The property is located immediately adjacent Cocowalk, one of South Florida's most preeminent outdoor retail establishments. The borrower sought the loan to be funded in two stages; initially a pre-development bridge loan to acquire the property; and subsequently a construction loan to be used to demolish the existing structure, and construct a 52 unit for-sale condominium development.

Land & Lot Development | $11,111,783 | Cumming, GA

This loan is secured by is a 220 lot residential development located in Forsyth County, Georgia. The site is surrounded by rolling hills and greenery and is a conveniently located escape with Coal Mountain Park and Central Park in close proximity. The area includes multiple highly ranked schools within a 2-mile radius as well as the daily conveniences as grocery stores and shopping nearby. The sales and marketing strategy for this project will be different from traditional communities and will target renters and first-time buyers with a focus on ownership and monthly payment. New value-oriented product has also been designed with the buyer in mind.

Land & Lot Development | $3,750,000 | Palmetto, FL

Willow Ridge consists of 148 acres of land, fully entitled for 299 single-family residential home lots. The property is currently unused agricultural land that was previously planted with trees to be used in various landscape projects throughout the Tampa Bay Area. The borrower has requested a first mortgage to assist in the acquisition of the property, development costs of Phase 1A (95 lots) and associated financing costs. The borrower has a contract with a well-noted home builder for the purchase of all 299 residential lots to be taken down over the course of a specific take down schedule.

Office & Industrial Refinance | $3,300,000 | Coral Springs, FL

The property is a 1.5 story 106,599 square foot industrial building located in Coral Springs, FL. The site is rectangular, generally flat and zoned IRD - Industrial Research and Development District, which allows a variety of industrial and office uses. The site is located within the Corporate Park of Coral Springs and is easily accessible by both Sample Road to the south and Wiles Road to the north. The Sawgrass Expressway to the west of the property is a toll road extending along the western portion of South Florida that allows great import and export transportation. 

Pre-Development Land | $12,475,000 | Miami, FL

A to-be built mixed-use building that includes 267 residential apartments, 25,000 sf of retail space, 52,000 sf of office space, and 505 on-site parking spaces. The property is 1.78 acre site, with frontage along three roads. Wynwood is a neighborhood in Miami, FL that overflows with vibrant artwork, restaurants, breweries, clothing stores, dance and club venues, among other retail options. It's located north of Downtown Miami and Overtown, and adjacent to Edgewater. The borrower will use the loan proceeds to refinance existing first and second mortgages, buy out a partner, and pay associated financing costs. 

Mixed-Use Value-Add | $2,450,000 | Hollywood, FL

The property is located in downtown Hollywood, FL. The location is pedestrian friendly with quaint sidewalk cafes, brick-lined walks, and six blocks of unique boutiques, shops, art galleries, and dozens of excellent restaurants along Hollywood Boulevard. The property benefits from being in an area with limited remaining development opportunities and high barriers of entry. The property is improved with a two-story mixed-use building containing 11,666 sf of retail space on the ground floor and 12 one-bedroom residential units on the second floor. The borrower has requested the loan to payout existing 1st lien debt, buyout the existing business partner, complete renovations on the residential units, and pay for associated financing costs.

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