Trez Capital provides construction loan for the Harbor at Town Center condominium project in the Tampa Bay submarket at Madeira Beach
TAMPA, FL – Trez Capital, a private real estate lender doing business across North America, has entered into a $ 15.61 million construction loan for The Harbor at Town Center in the region submarket of Tampa Bay at Madeira Beach. The Harbor at Town Center is a luxury condominium project under development on a 4.25 acre waterfront site.
The transaction closed on January 25, 2021. Town Center B Development, LLC is the borrower.
Located at 300 150th Ave., The Harbor at Town Center features 38 condos totaling 60,228 square feet and a swimming pool. The residential building is part of a larger development that brings two new hotels, retail space, restaurants and new parks to Madeira Beach.
Harbor at Town Center condominiums are 66% pre-sold, with sales momentum continuing throughout the pandemic.
“Residential waterfront products in Florida will always be in high demand, pandemic or not,” said Brett Forman, executive general manager of Trez Capital, Eastern United States. -state buyers settling here. We will continue to target opportunities to underwrite projects like The Harbor at Town Center. ”
Elsewhere in Florida, Trez Capital recently funded a $ 4.6 million lot development loan for a new residential community in Deland, central Florida. He also announced the successful repayment of an $ 80 million construction loan for the Truist Plaza mixed-use project (f / k / a SunTrust Plaza) in downtown Orlando.
Trez Capital provides short-term debt and equity financing typically between six months and 36 months, ranging from $ 5 million to over $ 100 million in loan value.
About Trez Capital: Founded in 1997, Trez Capital is a diversified real estate investment firm and a preeminent provider of commercial real estate debt financing solutions in Canada and the United States. Trez offers private and institutional investors strategies for investing in a variety of opportunistic, fully secure, high yield mortgage investment funds, and provides real estate developers and owners with rapid approvals on flexible short to medium term financing. With offices in Vancouver, Toronto, Dallas, Palm Beach, New York and Montreal, Trez Capital manages over $ 4.1 billion in assets and has funded more than 1,500 transactions totaling over $ 12 billion since its inception. . For more information visit www.trezcapital.com