The Real Deal Miami

Trez Forman finances site acquisition for senior housing in Boynton Beach

The developer of a 285-unit senior housing complex borrowed $4.9M to finance its acquisition of a 15-acre site on Jog Road
December 15, 2018 04:00PM

Rendering of 285-unit Boynton Beach senior housing development that Trez Forman is financing.

Trez Forman Capital Group loaned $4.9 million for the acquisition of a site for senior housing development in Boynton Beach.

The developer will use the loan to finance acquisition of a 15-acre site on the northwest corner of Flavor Pict Road and Jog Road in Boynton Beach, according to a press release by Trez Forman.

The Palm Beach County Planning Department and the county’s Zoning and Building Department recently approved the developer’s plan to build a 285-unit facility there.

The facility would have 192 independent-living units, 53 assisted-living units and 40 memory-care units.

“The senior housing category continues to perform well and attract significant investor interest,” Brett Forman, president and CEO of Trez Forman said in a prepared statement. “The demand should remain strong thanks to an aging baby boomer population and solid housing market.”

Trez Forman is a joint venture formed in 2016 by Palm Beach-based Forman Capital and Trez Capital Group, a leading Canadian commercial mortgage lender based in Vancouver. – Mike Seemuth