Commercial project in downtown Orlando draws $74.8 million construction loan
One of the lenders financing Lincoln Property's Church Street Plaza is Forman Capital in Palm Beach
A Palm Beach mortgage lending firm and a Canadian partner provided a $74.8 million loan for construction of a 26-story commercial complex in downtown Orlando.
The lender is Trez Forman Capital Group, a joint venture formed last year by Vancouver-based Trez Capital Group, one of the largest private commercial mortgage lenders in Canada, and Palm Beach-based Forman Capital, led by Brett Forman.
The borrower, Dallas-based Lincoln Property Co., will use the $74.8 million loan to finance construction of Church Street Plaza, which will encompass 200,000 square feet of office space and a 180-room hotel.
Kolter Hospitality of West Palm Beach has agreed to develop the hotel component of Church Street Plaza, which will be located on the southeast corner of West South Street and South Garland Avenue in downtown Orlando.
Earlier this year, Trez Forman Capital Group provided a $23.15 million construction loan to Encore Capital Management to finance its planned redevelopment of the Fashion Mall in Plantation as a mixed-use property called Plantation Walk. – Mike Seemuth