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| Brett Forman |
Wilmington, NC and Palm Beach, FL –Trez Forman Capital Group has
completed a $20.8 million loan for a significant single-family residential
development on 158 acres in Surf City near Wilmington, N.C.
The financing pays off an existing $2.5 million land loan
provided to the borrower byTrez Forman
and covers land development costs for 415 single-family lots.
The transaction closed on February 15. Trez Forman President and CEO Brett Forman arranged
the transaction.
Major homebuilder DR Horton has a contract to purchased 170 of the
single-family lots from the borrower, who plans to secure a buyer for the
remaining 245 lots.
The site is located at the intersection of Belt Road and NC
Highway 50. It is conveniently positioned near a new Publix, 1.5 miles from the
beach, with access provided by a new 3,600-foot bridge that opened in December
2018.
The master-planned community will be known as Waterside.
CONTACT:
Eric Kalis
Vice President, BoardroomPR
O 954-370-8999
C 305-794-5123
Bank of America Plaza | 1776 N Pine Island Road
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