VENICE, Fla. — Florida-based Trez Forman Capital Group has provided a $44.8 million loan for the construction of The Floridian Club of Sarasota, a 309-unit active adult community in Venice.
Trez Forman’s Ben Jacobson originated the loan. The borrower is Sarasota Floridian.
Plans call for 261 single-story attached villas and 48 three-story units served by elevators. Floor plans range from 991 square feet to 1,339 square feet. Long-term leases up to 10 years are available.
Although there are no age restrictions, the community is targeting Baby Boomer residents.
Trez Forman is a joint venture formed in 2016 by Palm Beach-based Forman Capital and Vancouver-based Trez Capital Group. It provides commercial bridge loans for development and construction and senior stretch financing starting at $5 million.