August 10, 2021
Trez Capital has sold The Beacon on Westmoreland, in Desoto, Texas. The financial terms were not disclosed. The Beacon at Westmoreland was built in partnership with Thompson Realty Capital on a 10.41-acre tract and offers 194 units in a class A garden-style apartment complex. Trez Capital provided a $6.31 million equity investment for the acquisition and construction of the project in February 2019.
August 09, 2021
DALLAS, Texas – July 30, 2021 – Trez Capital is pleased to announce the sale of The Beacon on Westmoreland, in Desoto, Texas. The Beacon at Westmoreland was built in partnership with Thompson Realty Capital, LLC on a 10.41-acre tract of land, and offers 194-units in a Class A garden-style apartment complex. Trez Capital provided a $6,307,385 equity investment for the acquisition and construction of the project in February 2019.
The Beacon at Westmoreland is located along the southeast corner of Westmoreland and Beltline in Desoto, just 11 miles south of downtown Dallas. The unit mix consists of spacious homes, including 124 one-bedroom units, 58 two-bedroom units and 12 three-bedroom units. The floor plans range from approximately 550 square feet to 1,180 square feet.
“Our client-first mentality, dependability, and transparency define Trez Capital and has made us a partner of choice for leading real estate developers and owners in Canada and the United States seeking short- and mid-term financing on a diverse range of commercial real estate development projects,” said Chairman and Chief Executive Officer of Trez Capital, Morley Greene. “For years we have been providing equity investment solutions and know that The Beacon on Westmoreland is a strong addition.”
Trez Capital’s joint-venture partnership program provides experienced developers with equity investments for value-add and ground-up developments in key markets with strong population, employment, and GDP growth. In these areas, Trez Capital targets investments in the multi-family, single-family for rent, industrial, and self-storage asset classes. Trez Capital, along with its development partners, intends to provide capital appreciation for investors through the development process and sustainable income from holding properties over the long-term.
“We employ rigorous due diligence in our partner selection process,” said John D. Hutchinson, President of Trez Capital, Central and Southwestern U.S. “We consider numerous factors before participating in a partnership project and rely on our boots-on-the-ground knowledge. This has given us the ability to fund many successful investments and maintain our track record of impressive returns for investors.”
Thompson Realty Capital has over 25 years of experience in acquisition, development, and property management of multi-family, office, and single-family residential projects. The Beacon on Westmoreland is the third project Trez Capital has completed with Thompson Realty Capital. All projects have resulted in higher-than-expected investor returns.
“We are proud to be part of The Beacon on Westmoreland team,” said Tom Field, President of Thompson Realty Capital. “We are a part of the tremendous growth in Texas and the Southwestern U.S. and the ability to work with partners such as Trez Capital ensures that we are delivering the communities that residents are looking for.”
With an emphasis on community, The Beacon on Westmoreland consists of seven three-story buildings and an amenity center complete with a club room, resort-style pool, deluxe grill stations, state-of-the-art fitness center, controlled and monitored access gates, 24-hour emergency maintenance, free Wi-Fi access in select areas, a dog park, a playground, a walking trail around the community courtyard, as well as expansive outdoor entertainment areas.
For more information about the financing of this investment and Trez Capital’s equity investment partnership program, please contact John Hutchinson, president of Trez Capital, Central and Southwestern U.S. at 214.545.0952 or JohnH@trezcapital.com.
About Trez Capital
Founded in 1997, Trez Capital is a diversified real estate investment firm and preeminent provider of commercial real estate debt financing solutions in Canada and the United States. Trez Capital offers private and institutional investors strategies to invest in a variety of opportunistic, fully-secured, mortgage investment funds and like investment assets and provide property developers and owners with quick approvals on flexible short- to mid-term financing.
With offices in Vancouver, Toronto, Dallas, Atlanta and Palm Beach, Trez Corporate Group has over $3.9* CAD in assets under management and has funded over 1,500 transactions totaling more than $13 billion CAD since inception. The Dallas office has funded more than $4 billion USD in loans and equity capital. For more information, visit www.trezcapital.com. (*Trez Corporate Group AUM includes assets held by all Trez related entities as well as $2.7 B Manager AUM (Trez Capital Fund Manager Limited Partnership)).
About Thompson Realty Capital, LLC
For over forty years, Thompson Realty Capital, LLC, and its predecessor, has developed significant residential, mixed use, office and retail properties in the Dallas/Fort Worth, Austin, San Antonio and Northern Virginia markets. With multifamily development as its primary focus over the last decade the company has developed, owned, managed and sold nearly 10,000 units. The company has also developed mid-rise office buildings, suburban office buildings, industrial and showroom projects, apartments and retail centers. These developments encompass over $2 billion in transaction flow, 5,000 acres and nearly 10,000 single family lots.