August 21, 2023
Trez Capital takes a conservative yet optimistic outlook for the remainder of 2023 on commercial real estate investing.
Q2 2023 Highlights
• John Hutchinson and Dean Kirkham were named Co-Chief Executive Officers.
• Distribution increase for all debt funds announced, effective July 31, 2023.
• The Ovilla is the first of five multi-family properties to stabilize within the Trez Capital Private Real Estate Fund Trust (TPREF).
Vancouver, BC– CNW – August 21, 2023 – Trez Capital, one of North America’s leading non-bank commercial real estate lenders and asset managers, is proud to announce a strong second quarter of 2023. Trez Capital continues to identify unique opportunities for real estate investment and provide creative financing solutions to borrowers and developers. With offices across North America, Trez Capital has $5.3 billion CAD in assets under management (AUM) and has funded over 1,700 transactions totaling more than C$17 billion since its inception in 1997.
Strategic Leadership Appointments Fuel Q2 2023
Early in the second quarter of 2023, after almost 26 years as Chairman and Chief Executive Officer, firm founder Morley Greene transitioned into the role of Executive Chairman. John Hutchinson and Dean Kirkham have been serving as Co-Chief Executive Officers taking strategic steps to lead the firm into a new chapter of growth. In his new role as Co-Chief Executive Officer and Global Head of Origination, John Hutchinson continues to focus on the firm’s debt and equity origination business. As Co-Chief Executive Officer and President, Dean Kirkham continues to focus on the key pillars of risk and capital raising for the firm.
“My confidence to transition leadership at this time is a testament to the strength and vision of the firm, creating space for our leaders to emerge, fostering innovation, and paving the way for Trez Capital to spread its wings and soar higher in the next chapter of growth and success,” said Morley Greene, Founder and Executive Chairman, Trez Capital.
Trez Capital’s partnership continues to undergo changes that bring new perspectives, skills, and varied expertise. John Hutchinson joined the partnership in the beginning of 2021, and in early 2022, Dean Kirkham and John Maragliano were also welcomed as partners. Earlier this quarter, John M. was appointed Chief Operating Officer in addition to his responsibilities as Chief Financial Officer. The executive leadership team’s wealth of experience ensures the firm’s enduring success while placing investors at the forefront of all endeavors.
Debt Funds Updates
Trez Capital remains committed to finding the right opportunities in targeted regions across North America for investors, especially in the thriving residential markets that are benefiting from population and job growth. With a strategic focus on residential lending, the firm anticipates continued growth.
Interest rate increases in Canada and the United States have contributed to Trez Capital’s floating-rate mortgage portfolio returns. In Q2 2023, the firm announced another distribution rate increase. Effective July 31, 2023, the annual distribution yield for each fund is as follows: Trez Capital Prime Trust at 6.24%, Trez Capital Yield Trust at 7.68%, Trez Capital Yield Trust U.S. (CAD) series at 8.64%, and Trez Capital Yield Trust U.S. (USD) series at 8.64%.
Trez Capital remains committed to providing investors with strong, reliable, and uncorrelated returns and is cautious with lending parameters to mitigate risk.
Equity Investments Program Update
Since 2013, Trez Capital has provided investors with real estate equity investment opportunities and the program’s most recent achievement includes nearing stabilization of The Ovilla.
This project is an inaugural property held within the Trez Capital Private Real Estate Fund Trust (TPREF). The Ovilla has surpassed the original underwritten rental rate projections by 34%. When first entering the project, Trez Capital identified an attractive opportunity for investors in Red Oak, Texas, south Dallas-Fort Worth metroplex, due to limited in-area competition and an imbalance in supply-demand for housing.
The property’s high occupancy rates, strong leasing performance and excellent amenities make it an attractive, high-quality, long-term asset for Trez Capital investors.
About Trez Capital
Founded in 1997, Trez Capital is a diversified real estate investment firm and preeminent provider of commercial real estate debt and equity 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, syndication offerings and real estate joint-venture investments; and provides property developers with quick approvals on flexible short- to mid-term financing.
With offices across North America, Trez Corporate Group has over $5.3* billion CAD in assets under management and has funded over 1,700 transactions totalling more than $17 billion CAD since inception. For more information, visit www.trezcapital.com. (*Trez Corporate Group AUM includes assets held by all Trez-related entities as well as $3.0 billion Manager AUM (Trez Capital Fund Management Limited Partnership)).
For more information: Trez Capital Media Contact, Sarah Haney, 647.460.2029, firstname.lastname@example.org
These materials are for informational purposes only and do not constitute an offer to sell or a solicitation to buy securities. Past results are not indicative of future performance. Forward-looking statements are included. Actual results, performance and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained above. Such forward-looking statements are based on a number of assumptions which may prove to be incorrect including, but not limited to: the ability of the Funds to acquire and maintain a portfolio of mortgages capable of generating the necessary annual yield or returns to enable the Funds to achieve their investment objectives, the ability of the Funds to establish and maintain relationships and agreements with key financial partners, the maintenance of prevailing interest rates at favorable levels, the ability of borrowers to service their obligations under the mortgages, the ability of the Manager to effectively perform its obligations to the Funds, anticipated costs and expenses, competition, and changes in general economic conditions. While the Funds anticipate that subsequent events and developments may cause its views to change, the Manager specifically disclaims any obligation to update these forward-looking statements, except as required by applicable law.