Saturday, December 12, 2020

Trez Capital Closes Development Loan for New Residential Community near Daytona Beach, FL

 Brett Forman

 ORLANDO, FL and PALM BEACH, FL– Trez Capitala private real estate lender doing business throughout North America, funded a $4.6 million development loan for a new residential community in Central Florida.

 The borrower, DeLand Development II, LLC, will use the loan proceeds to build out 141 single-family-home lots that have all been pre-sold to D.R. Horton.

 The Estates at Pelham Square is being developed in DeLand, a city between Orlando and Daytona Beach.  In the Southeast U.S., Trez Capital has a niche funding development loans for new residential projects in secondary and tertiary markets, which are in high demand now.

 “Florida has always been a strong market for residential real estate, but the pandemic has accelerated the trend,” said Brett Forman, Trez Capital Executive Managing Director, Eastern U.S. “Out-of-state buyers who can work from home are moving to the state in droves looking for larger, less crowded spaces and an outdoor lifestyle.”

 Elsewhere in Central Florida, Trez Capital recently announced the successful payoff of an $80 million construction loan for the mixed-use Truist Plaza (f/k/a SunTrust Plaza) project. 

The borrower, Dallas-based developer Lincoln Property Co., developed the 28-story tower with 200,000 square feet of office space, 180 hotel rooms and 5,000 square feet of retail in downtown Orlando. The September 2017 financing was the lender’s largest Orlando transaction.

 Trez Capital provides short-term debt and equity financing typically between six months and 36 months in term ranging from $5 million to more than $100 million in loan value. 

  CONTACT:

 Todd Templin

Executive Vice President

BoardroomPR

ttemplin@boardroompr.com

O 954-370-8999

C 954-290-0810

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www.trezcapital.com.

 

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