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Friday, 30 November 2018

Trez Forman Lends $59.35Mln for Construction of Dallas-Area Retail Property

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Trez Forman Capital Group has provided $59.35 million of construction financing for the Shops at Broad, a 193,825-square-foot retail center in the Dallas suburb of Mansfield, Texas.

The property, on 58 acres at 1701 East Broad St., will be anchored by a Belk department store, T.J.Maxx and an Aldi grocery store. Other tenants slated for the property include Five Guys, Starbucks and FLIX brewhouse.

It is being built next to the Star Center, a public ice-skating rink that's affiliated with the Dallas Stars professional hockey team, and Fieldhouse USA, a community sports-league facility.

Shops at Broad is being developed by Geyer Morris Co. of Atlanta, which was represented in the financing by NorthMarq Capital.

The Fieldhouse and Star Center are "expected to attract more than 1.5 million visitors a year," explained Brett Forman, president and chief executive of Trez Forman. "We loved this deal because the developer is creating a destination center."

Trez Forman is a venture between Forman Capital of Boynton Beach, Fla., and Trez Capital Group of Vancouver, British Columbia. It specializes in providing middle-market bridge loans for new developments and is on track to originate more than $500 million of volume this year - well more than the $400 million it earlier had projected. Last year, it funded $200 million of loans.

Comments? E-mail Orest Mandzy, or call him at (267) 327-4281.



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Additional Info

  • Syndicate to Realpoint: No
  • Cities: Dallas
  • States: Texas
  • Sector: Retail
  • Subject: Mortgages/Financing (MOR)
  • Valuation: Between $50 million and $100 million
  • Private: No
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Dan Moynihan

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