Tricon Capital affiliate lands $32M loan

Aerial view of Fort Lauderdale (Credit Flickr user Art01852) and David Veneziano of Tricon Capital
Aerial view of Fort Lauderdale (Credit: Flickr user Art01852) and David Veneziano of Tricon Capital

The American arm of Canadian-based Tricon Capital obtained a $32.3 million mortgage, according to documents recorded in Broward County records on Tuesday.

German American Capital Corp. granted the mortgage to TAH 2015-1 Borrower, which includes 196 of Tricon’s residential properties.

David Veneziano, vice president and general counsel at Tricon Capital Group, is listed on the borrower’s corporate filings.

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The asset management company focuses on residential real estate in North America. Tricon American Homes owns and manages more than 6,500 single-family rental homes valued at $2.4 billion, according to the company’s website.

TAH reported an $18.3 million increase in its first quarter earnings this year. Tricon acquired Broker Price Opinions for 2,257 homes located in Charlotte, North Carolina; Southeast Florida; Atlanta, Georgia; and Northern California.

The mortgaged homes are located throughout Broward in Fort Lauderdale, Pompano Beach, Lauderhill and Miramar, among other cities. The German bank recently granted a $17 million loan to a Courtyard Marriott in Plantation.