Trez Forman Capital Group Closes $6.75 Million Loan for Pennsylvania Mixed-Use Project

Brett Forman

BOYNTON BEACH, FL and PHILADELPHIA, PA –– Florida-based Trez Forman Capital Group has completed a $6.75 million loan for a developer planning to build a mixed-use project located in an emerging section of Philadelphia, Pa.

 Ryan Howard of Trez Forman originated the loan, which closed on Friday, January 12.  This is the first time Trez Forman has done business in the state of Pennsylvania.

The borrower, Gagandeep Lakhmna of 1413 Germantown, LLC, plans on developing a 6-story, 50-unit mid-rise apartment building with 5,500 square feet of ground-floor commercial space on a 14,625-square-foot site at 1413 Germantown Ave. The project will be targeted towards the millennial generation.

With smaller residential units close to mass transit hubs and major employers, the development will offer a walkable, urban living experience at a better price point than downtown Philadelphia corridor.  The development will also offer some garage parking, a fitness center, bicycle storage, and a full amenity package.

“We are always excited to work with borrowers on deals in emerging neighborhoods,” said Brett Forman, President and CEO of Trez Forman. “The young professional population is going to respond to the value proposition and amenities this rental project will offer.”

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

Ryan Howard

The venture also offers private and institutional investors equity investment opportunities in a variety of funds and assets. This year, Trez Forman expects to originate more than $300 million worth of loans.

In December 2017, Trez Forman completed a $74.8 million construction loan to Dallas-based developer Lincoln Property Co. for the 26-story Church Street Plaza project planned for downtown Orlando, Florida.

That transaction followed the company giving Encore Capital Management a $23.15 million construction loan for the redevelopment of the former Fashion Mall in Plantation into the mixed-use Plantation Walk.

For more information on this release, please contact:

Todd Templin and Eric Kalis

954-370-8999

ttemplin@boardroompr.com

or ekalis@boardroompr.com

www.trezforman.com.

30 Legendary Properties Inducted into Historic Hotels Worldwide in 2017

NH Collection Porta Rossa Hotel, Florence, Italy

WASHINGTON, DC – Historic Hotels Worldwide® has inducted 30 historic hotels into its registry in 2017. The 30 iconic hotels represent more than 10 brands, chains, and collections from 14 countries. The oldest historic hotel inducted in 2017 is the NH Collection Porta Rossa which includes a building that dates back to the 13th century.

Lawrence Horwitz

Historic Hotels Worldwide is an official program of the National Trust for Historic Preservation (United States of America) for recognizing and celebrating the finest Historic Hotels around the world. 

“Imagine discovering, experiencing, and exploring a hotel in a former castle, chateau, palace, academy, hacienda, luxury manor home, or monastery,” said Lawrence Horwitz, Executive Director, Historic Hotels of America and Historic Hotels Worldwide.

“These 30 historic hotels demonstrate the tremendous stewardship of their owners, leadership, and employees in preserving these wonderful historic treasures and the many centuries of stories of the people that previously lived, worked, socialized, or visited. 

“Many are tremendous architectural and heritage landmarks. Each is worth exploring and visiting.”

For more a complete list and lineage of the 30 hotels and more information on this release, please contact:

Lauralee Dobbins

609-451-5102

856-979-8929 (mobile)

Lauralee@WriteTouchPR.com

2017 Pepperpot Award Winner

Member SATW

Twitter @AHotelPRo

or

Heather Taylor

Historic Hotels Worldwide

Senior Manager, Marketing Communications

Tel: +1 202 772 8333 Fax: +1 202 772 8338

htaylor@historichotels.org

For the complete list of 

Bull Realty Brokers $5 Million Retail Center in Douglasville, GA

  

Will Young

 ATLANTA, GA – Will Young at Bull Realty brokered the sale of “The Boulevard I & II at Arbor Place Mall,” two multi-tenant retail buildings totaling 30,300 SF in Douglasville, GA. The sale closed on Jan. 11th for $5 million ($165/SF) at a 7.9% proforma cap rate.

Built in 2004 and 2007, this retail portfolio was 100% occupied at the time of the sale. The stable mixture of 12 tenants is comprised of a blend between local and national tenants including Metro PCS, Edible Arrangements, State Farm and Get Well Urgent Care.

Young was chosen to market the property exclusively by the Seller, Benchmark Boulevard Properties, Inc. This center sold to Michael and Sherri Basinet, who were not represented by a broker.

“The Seller developed and managed this property, so we were pleased to bring him an out-of-state 1031 buyer, who was capable of paying top dollar. The building is in excellent condition and should continue to be a solid investment for the buyer,” said Young.

  

For more information contact Bull Realty at 404-876-1640 or Info@BullRealty.com - Bull Realty, Inc. (www.BullRealty.com) is a commercial real estate brokerage and advisory firm headquartered in Atlanta, licensed in nine states providing acquisition, disposition, leasing and advisory services. The firm also produces and hosts America’s Commercial Real Estate Show (www.CREshow.com).

For more information on this release, please contact:

Melissa Henry

Communications Manager

Bull Realty, Inc.

404-876-1640 x 110

www.BullRealty.com

www.CREshow.com

www.ATLCREshow.com

HFF announces sale of the Quintiles Building in Overland Park, KS

Rendering of the Quintiles Office Building, College Boulevard Corridor, Overland Park, KS

Mark Katz

DENVER, CO –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of the Quintiles Building, a 239,366-square-foot, Class A office building in Overland Park’s highly desirable College Boulevard corridor.

The HFF team marketed the asset on behalf of the seller, The Keith Corporation (TKC).

The Quintiles Building serves as a mission-critical facility for QuintilesIMS (NYSE: Q), a worldwide leader in integrated information and technology-enabled healthcare.

 Originally constructed in 2006 as a build-to-suit for Quintiles, the company recently extended its lease for 176,839 square feet through 2023.  In addition, Honeywell (NYSE: HON) took occupancy of the remaining 62,527 square feet in June 2017.

 The four-story building is located at 6700 W. 115th Street just southeast of the intersection of College Boulevard and Metcalf Avenue. The Quintiles Building is also convenient to Interstates 435 and 35 providing access to the Overland Park area, downtown Kansas City and the entire metropolitan region.

The HFF investment advisory team included senior managing director Mark Katz and senior director Peter Merrion along with managing director Sean Fogarty, a licensed Kansas real estate broker.

Peter Merrion

“Since TKC developed the building in 2006, the Quintiles Building has been one of the top assets in the Overland Park market,” Merrion said. 

  “Quintiles’ recent long-term recommitment to the property combined with Honeywell’s lease resulted in this fully leased building being especially well received by the investment market.

For more information on this release, please contact:

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3500

ohennessey@hfflp.com