Trez Forman Closes $45.4 Million Loan for Tri-State Area Mixed-Use Redevelopment in Darien, CT

 Brett D. Forman 

 New York City and Palm Beach, FL -- Trez Forman Capital, with offices in Atlanta, Ga. and Palm Beach, Fla., funded a $45.4 million loan for a mixed-use redevelopment in the New York City metropolitan area. 

The project, Noroton Heights, is the first redevelopment in the Town of Darien, Connecticut in many years.

The transaction closed on Nov. 15. Noroton Heights & Company, LLC is the borrower and affiliated parties own and operate the adjacent Palmer’s Market.

Trez Forman President and CEO Brett D. Forman and Russ Holland from the firm’s Atlanta office Managing Director arranged the financing.

Located on four acres at 264 and 346 Heights Road, Noroton Heights is planned to include retail, restaurants, 59 apartments and an underground parking garage.

Russ Holland 

Four existing buildings constructed in 1960 are set to be demolished to make way for the construction of three brand-new buildings. Construction of a skybridge connecting two of the buildings is also planned.

Darien is primarily a commuter town, as many residents work in nearby New York City. The Noroton Heights metro north rail station connects to the redevelopment site.

“We are thrilled to expand our tri-state portfolio with this new loan,” said Forman. “Noroton Heights is a project that fills a void for new apartments, retail and restaurants to service the many commuters who rely on the rail station. We continue to aggressively monitor the region for similar opportunities.”

CONTACTS:

 Todd Templin

Executive Vice President

BoardroomPR

ttemplin@boardroompr.com

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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Eric Kalis

954-370-8999

ekalis@boardroompr.com

www.trezforman.com