Monday, December 3, 2018

Trez Forman Capital Group Provides $59 Million Construction Loan for Power Retail Center near Dallas, TX

Rendering of planned Shops at Broad, 1701 East Broad Street, Mansfield, TX

Mansfield, TX and Palm Beach, FL -- Trez Forman Capital Group has closed on a $59.35 million construction loan that will be used to fund construction of a power retail center in Mansfield, Texas, a rapidly growing city that is part of the Dallas/Ft. Worth metro area.

The 193,825 square foot Shops at Broad is slated to be developed on 58 acres of vacant land at 1701 East Broad Street. The Center will be anchored by Belk, TJ Maxx and Aldi.  Starbucks, Five Guys, and FLIX Brewhouse have also signed on as tenants. Eleven other outparcels are also approved for development.

Russ Holland
This project is moving forward just as two adjacent commercial pads opened up: a retail center anchored by an At Home and Academy Sports, and a public ice rink affiliated with the Dallas Stars called the Star Center.  

A third adjacent tract is being developed with a 330-unit Class A apartment community.  Contiguous to the Shops at Broad is a Fieldhouse USA already in place.

“We loved this deal because the developer is creating a destination center in an area is undergoing a commercial building boom to satisfy a pent up demand for quality retail/restaurants,” said Brett Forman, President/CEO of Trez Forman.

 “The Star Center and fieldhouse alone are expected to attract more than 1.5 million visitors a year which will deliver traffic to our client’s tenants.”

The $59 million loan was arranged by Forman and Trez Forman Managing Director, Russ Holland.  The loan’s sponsor is Clarke Coole of Geyer Morris who was advised by Will James of NorthMarq Capital.

Will James

For Trez Forman, a joint venture formed in 2016 by Palm Beach-based Forman Capital and Vancouver-based Trez Capital Group - one of Canada’s largest private commercial mortgage lenders, the latest activity continues the momentum from a busy year. 

 The venture is on track to close more than a $500 million in deals in 2018.

Trez Forman provides commercial bridge loans for development and construction, and senior stretch financing starting at $5 million.

It also offers private and institutional investors equity investment opportunities in a variety of funds and assets.

Todd Templin
Executive Vice President
O 954-370-8999
C 954-290-0810

Bank of America Plaza | 1776 N Pine Island Rd
Suite 320 | Fort Lauderdale, FL 33322

No comments: