Trez Forman Capital provided at $26.7 million acquisition and construction loan to the developer of a regional retail and entertainment center just northeast of Atlanta known as The Exchange at Gwinnett. Located near Buford Drive and the I-85 exchange, the $350 million project will feature a mix of retail stores, restaurant and entertainment destinations and apartments.
The borrower, Fuqua Development, used the loan proceeds to acquire 67.5 acres of raw land and start construction on the project’s first phase. Simultaneous with the closing that took place Nov. 8, Fuqua sold three parcels, or 33 acres, to separate entities to develop a Top Golf, Rooms-to-Go and a 450-unit apartment community by The Worthing Companies.
Fuqua plans on selling off another 13 acres, or four parcels, which will be developed with an Andretti Indoor Karting & Games, a 123-room hotel and restaurants. Fuqua will retain the remaining 21 acres and has immediate plans to build 56,000 square feet of restaurant/retail space on a portion of the land. Committed tenants include Starbucks, Chipotle and City Barbeque.
“We are extremely excited to be supporting Fuqua on this very significant project in the Atlanta market,” said Brett Forman, CEO of Trez Forman, who originated the loan with Russ Holland from the firm’s Atlanta office. “Fuqua is one of the most active retail developers in the Atlanta area we look forward to working with them on other projects in the future.”
“This was an extremely complex deal that took several years to come together,” said Jeff Fuqua, founder and principal of the Atlanta-based development company. “The Trez Forman team stood shoulder-to-shoulder with us throughout the entire process to get the loan funded and closed on time so that we could start construction on what is one of the largest projects underway in Gwinnett County.”
Fuqua Development specializes in urban retail-mixed use developments throughout the Atlanta metro area. The company has also done work in Florida and Alabama.
The Exchange at Gwinnett is located 2925 Buford, Georgia 30519 next door to the Mall of Georgia in the Atlanta-Sandy Springs-Roswell MSA. It is located near dense population centers with new residential communities coming on line soon as well as new office and industrial development taking place in the immediate area.
Trez Forman provides commercial bridge loans for development and construction and senior stretch financing, starting at $10 million. It also offers private and institutional investors equity investment opportunities in a variety of funds and assets.
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About Trez Forman Capital: Founded in 2016, Trez Forman Capital is a Palm Beach, 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 $10M to $75M-plus. Trez Forman has funded nearly $1 billion in loans since inception. 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 Palm Beach-based Forman Capital and Trez Capital Group, one of Canada’s largest private commercial mortgage lenders with approximately $3 billion in committed capital. Trez Capital has originated approximately $10 billion in loans since its inception. For more information, visit www.trezforman.com.
Media Contact for Trez Forman: Todd Templin or Eric Kalis
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