 |
| Courtesy of Glasshaus Coconut Grove, FL |
Miami, FL
and Palm Beach, FL — Trez Forman Capital funded a $13.2 million
construction loan for the developer of a boutique luxury condominium project in
the Coconut Grove section of Miami.
 |
| Daniel Ribeiro |
More than half of the units have been presold and construction is underway. The loan will provide the developers with enough capital to finish the building, which is located on a half-acre site at 3156 SW 27th Ave. near popular retail and dining and entertainment venues.
The
borrower is West Townhomes, LLC. Trez Forman
President/CEO Brett Forman originated the loan, which
closed on July 16, 2019.
“This is a
premier project being developed by two groups that have a strong track record,”
said Forman. “We are very confident in their ability to execute on their plan
to deliver a first-class building that is a perfect fit for the Grove.”
 |
| Javier Lluch |
The building has between one and three-bedroom residences ranging in size from just over 1,000 square feet to 2,953 square feet.
Each unit has 11-foot finished ceilings and floor-to-ceiling glass windows, porcelain flooring options as well as European-designed kitchens with Bosch-brand appliances.
The
building features a reception lobby with a living garden wall and covered
secured parking with charging stations.
Resort style amenities include a rooftop pool and summer kitchen, a fitness center adjacent to Zen garden and electric bicycles for residents to use.
Resort style amenities include a rooftop pool and summer kitchen, a fitness center adjacent to Zen garden and electric bicycles for residents to use.
Unit
prices range from $853,221 to $1.578 million.
 |
| Brett Forman |
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.
CONTACTS:
Eric
Kalis
Vice
President, BoardroomPR
O 954-370-8999
C 305-794-5123
Bank of
America Plaza | 1776 N Pine Island Road
Suite 320 | FortLauderdale, FL 33322
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