Trez Capital, a private real estate lender doing business throughout North America, funded a $5.55 million development loan for a new residential community in Central Florida.
Orlando-based Avex Homes is developing Spruce Road on a 26.5-acre parcel in Eagle Lake, a town located off U.S. Highway 17 near Lakeland, Florida. The borrower will use the loan proceeds to prepare 125 single family home lots.
Eagle Lake is 1.4 square miles with rolling hills and boasts pristine lakes for prime recreational opportunities. It is known as the “Best Small City in Florida.”
“As many buyers get priced out more populated areas of Florida, we continue to see interest in smaller cities where people can work from home and enjoy a more tranquil quality of life,” said Brett Forman, Trez Capital Executive Managing Director, Eastern U.S.
“The borrowers have a great track record building in some of these areas and I expect they will be very successful in Eagle Lake,” said Ben Jacobson, Vice President of Origination, Eastern U.S.
Trez Capital is an active lender in Florida. It recently funded a $44.14 million construction loan for a 288-unit apartment community in Port Orange and a $4.6 million land development loan for a 141 single-family community in nearby DeLand. In late February, Trez closed on a $70 million construction loan for a 19-story apartment tower in South Florida.
Trez Capital provides short-term debt and equity financing typically between six months and 36 months in term ranging from $5 million up to $100 million in loan value.
About Trez Capital
Founded in 1997, Trez Capital is a diversified real estate investment firm and preeminent provider of commercial real estate debt financing solutions in Canada and the United States. Trez offers private and institutional investors strategies to invest in a variety of opportunistic, fully secured, high-yield mortgage investment funds, and provides property developers and owners with quick approvals on flexible short- to mid-term financing.
With offices in Vancouver, Toronto, Dallas and Palm Beach, Trez Capital has over $4.1billion in assets under management and has funded over 1,500 transactions totaling more than $12 billion since inception. For more information, visit www.trezcapital.com.
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