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| 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.
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| 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.
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| 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.
It also offers private and institutional investors equity investment opportunities in a variety of funds and assets.
CONTACTS:
Todd
Templin
Executive Vice
President
BoardroomPR
O 954-370-8999
C 954-290-0810
Bank of America
Plaza | 1776 N Pine Island Rd
Suite 320 | Fort
Lauderdale, FL 33322
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