December 11, 2020
DELAND/PALM BEACH, Fla. – December, 11, 2020 – Trez Capital, a private real estate lender doing business throughout North America, funded a $4.6 million development loan for a new residential community in Central Florida. The borrower, DeLand Development II, LLC, will use the loan proceeds to build out 141 single-family-home lots that have all been pre-sold to D.R. Horton.
Estates at Pelham Square is being developed in DeLand, a city between Orlando and Daytona Beach. In the Southeast U.S., Trez Capital has a niche funding development loans for new residential projects in secondary and tertiary markets, which are in high demand now.
“Florida has always been a strong market for residential real estate, but the pandemic has accelerated the trend,” said Brett Forman, Trez Capital Executive Managing Director, Eastern U.S. “Out-of-state buyers who can work from home are moving here in droves looking for larger, less crowded spaces and an outdoor lifestyle.”
Elsewhere in Central Florida, Trez Capital recently announced the successful payoff of an $80 million construction loan for the mixed-use Truist Plaza (f/k/a SunTrust Plaza) project. The borrower, Dallas-based developer Lincoln Property Co., developed the 28-story tower with 200,000 square feet of office space, 180 hotel rooms and 5,000 square feet of retail in downtown Orlando. The September 2017 financing was the lender’s largest Orlando transaction.
Trez Capital provides short-term debt and equity financing typically between six months and 36 months in term ranging from $5 million to more than $100 million in loan value.
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 offers private and institutional investors strategies to invest in a variety of opportunistic, fully secured, high-yield mortgage investment funds, and provides property developers and owners with quick approvals on flexible short- to mid-term financing.
With offices in Vancouver, Toronto, Dallas and Palm Beach, Trez Capital has over $3.8 billion in assets under management and has funded over 1,500 transactions totaling more than $11 billion since inception. For more information, visit www.trezcapital.com.