Miami condo development secures $13 million loan from Trez Forman

                                                                                       Courtesy of Glasshaus

Rendering of Miami’s Glasshaus Condo
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

The 5-story, 23-residence GlassHaus is being co-developed by Brazilian-based G.D8, led by Daniel Ribeiro, and Element Development LLC, a Miami-based company headed up by Javier Lluch.

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

GlassHaus features a minimalistic design with a clean, elegant style that invites natural light in. 

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.

Unit prices range from $853,221 to $1.578 million.

Brett Forman

This is the second new construction project Trez Forman has funded in Coconut Grove. Earlier this year, the private commercial real estate lender closed on a $21 million construction loan for the 52-unit Arbor located at 3434 Oak Avenue.

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

ekalis@boardroompr.com

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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www.trezforman.com.