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| WPM Building, 40 and 46 NE First Avenue, Downtown Miami, FL |
Miami, FL ––Trez
Forman Capital Group has closed on a $4.1 million loan
for the buyer of the “First & First” mixed-use building in downtown Miami.
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| Brett Forman |
The Boynton Beach-based private lender is on pace to
complete more than $500 million in 2018 transactions.
The “First & First” loan is Trez Forman’s first in Miami-Dade County
this year, although the company has been actively lending throughout South
Florida.
Located at 40 and 46 NE First Ave., the site includes
eight-story and three-story structures with a combined 22,490 square feet. The
structures were originally constructed in 1906 and 1915.
Trez Forman President and CEO Brett Forman arranged the
transaction, which closed on Aug. 1, 2018.
The borrower, which has an existing relationship with Trez Forman through Dan
Rosenberg of Cohen Financial, plans to focus on leasing the available space
to various office tenants. An existing restaurant occupies one of the
ground-floor retail spaces.
“We were particularly attracted to the prime location of this unique and
recognizable mixed-use site,” Forman said. “We continue to look for strategic
opportunities to fund acquisition and construction loans in the tri-county
area.”
 |
| Daniel E. Rosenberg |
The venture 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.
Founded
in 2016, Trez Forman Capital is a Florida-based commercial bridge lender for
development and construction, senior stretch first mortgages and special
situations nationwide.
Contact:
Eric Kalis
Account Director, BoardroomPR
Bank of America Plaza | 1776 N Pine
Island Road
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