Private lender funds acquisition of 57.39-acre parcel with significant development potential

Trez Forman Capital Group has completed a $16.64 million loan for the acquisition of 57.39 acres in Hillsborough, North Carolina, just outside of Durham and Chapel Hill. The Daniel Boone Street site includes two existing retail centers and has the capacity for substantial additional mixed-use commercial real estate development.

Daniel Boone Landco, LLC is the borrower. The transaction follows a $17.24 million loan Trez Forman funded for the purchase of a 138-acre Hillsborough parcel – Collins Ridge- by the same borrower in May.

Trez Forman President and CEO Brett Forman arranged the Daniel Boone Street transaction, which closed on Sept. 4.

The Daniel Boone Road site is located just north of Exit 164, also known as Churton Street, on I-85. The borrower plans to bring in a partner and evaluate whether to develop or sell individual parcels to interested parties.

This is the sixth loan that Trez Forman has made in North Carolina this year as part of its efforts to increase its presence in the Carolinas.

In February, a developer borrowed $35 million from the lender to develop a mixed-use project in Wilmington. In May, the lender completed a $2.5 million acquisition loan for a 195-acre residential development site in Surf City.

On July 6, Trez Forman closed a $42 million construction loan for a large-scale residential development in the Charlotte, N.C. suburb of Huntersville.

“It is exciting to continue our Carolinas activity and expand our relationship with this particular borrower,” said Forman. “We have no plans to slow down our search for similar opportunities in the region.”

For Trez Forman, 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, the latest activity continues the momentum from a busy summer. The venture is on track to close more than a $500 million in deals in 2018.

Trez Forman provides commercial bridge loans for development and construction and senior stretch financing starting at about $5 million. It also offers private and institutional investors equity investment opportunities in a variety of funds and assets.

About Trez Forman Capital Group: Founded in 2016, Trez Forman Capital is a Florida-based commercial bridge lender for development and construction, senior stretch first mortgages and special situations nationwide. It provides developers and property owners with quick approvals on flexible short to mid-term financing from $5M to $75M. The company also offers private and institutional investors equity investment opportunities in a variety of funds and assets. Trez Forman is a joint venture between Brett Forman’s mortgage lending firm, Forman Capital, and Trez Capital Group, one of Canada’s largest private commercial mortgage lenders. For more information, visit www.trezforman.com.