ORLANDO, FL – Trez Capital, a private real estate lender that helps build better communities across North America, has funded a $42,216,473 construction loan for luxury development The Ritz-Carlton Residences, Orlando, Grande Lakes of Unicorp National Developments, Inc. The transaction closed on March 18.
Unicorp, led by Chuck Whittall, one of Central Florida’s top developers, is responding to market demand for high-end branded residences with resort-style amenities. The Ritz-Carlton Residences offers 37 spacious three- and four-bedroom residences with swimming pools in a gated community. The project is part of the Grande Lakes planned community, which includes the luxury Ritz-Carlton Orlando Grande Lakes resort.
Amenities include a private owners-only clubhouse, full-service spa, 18-hole Greg Norman signature golf course, 11 restaurants and bars, children’s activities, water sports, hiking, nature trails and Moreover. Located at 4012 Central Florida Parkway, the project offers easy access to downtown Orlando, Winter Park, Orlando International Airport, and many area theme parks and attractions.
Trez Capital managing director Ben Jacobson issued the loan on behalf of Unicorp. Jacobson is based in the Florida office of Trez Capital, led by Executive Managing Director, US East, Brett Forman.
This is the second major transaction between Trez Capital and Unicorp since last summer. Jacobson issued a $75.2 million loan for the developer’s 354-unit SOTA 75 rental project in Sarasota in June 2021.
“It’s exciting to work with a repeat borrower who has unparalleled experience providing luxury homes in Central Florida and beyond,” Jacobson said. “Orlando’s high-end residential market is underserved. With a world-class brand like The Ritz-Carlton, leading developer and general contractor to Unicorp and Jones Clayton Construction, respectively, and a range of amenities, this project is expected to see strong sales activity.
Orlando is one of the fastest growing housing markets in the country, benefiting from internal migration and nearly 70 million annual visitors. According to USA Today, it was one of five major metropolitan areas in the United States that saw an annual listing price increase of 18% or more over the past year. Orlando listing prices increased by 20%.
“We are actively targeting opportunities in Orlando and the broader Central Florida region,” Forman said. “Orlando is no longer just about theme parks. It has evolved into a diverse and sustainable real estate market and economy.
Trez Capital provides short-term debt and equity financing, typically six to 36 months, up to $100 million in loan value. In 2021, the company originated $3.9 billion in loans, including $633 million from the eastern region of the United States, which includes offices in Palm Beach, Florida, and Atlanta, Florida. Georgia.
About Trez Capital: Founded in 1997, Trez Capital is a diversified real estate investment firm and a preeminent provider of debt and equity commercial real estate financing solutions in Canada and the United States. Trez Capital offers strategies for private and institutional investors to invest in a variety of opportunistic, fully collateralized mortgage funds, syndications and joint ventures; and provides property developers with quick approvals on flexible short- and medium-term financing.
With offices across North America, Trez Corporate Group has over C$4 billion in assets under management and has funded over 1,600 transactions totaling over C$14.5 billion since its inception. The Eastern US team has funded nearly $2 billion since 2016 and loaned more than $630 million in 2021. For more information, visit www.trezcapital.com. (*Trez Corporate Group AUM includes assets held by all Trez-related entities as well as $2.7 billion of assets managed by the manager (Trez Capital Fund Management Limited Partnership).