Noroton Heights is a significant project for Connecticut town northeast of New York City

Trez Forman Capital, with offices in Atlanta, Ga. and Palm Beach, Fla., funded a $45.4 million loan for a mixed-use redevelopment in the New York City metropolitan area. The project, Noroton Heights, is the first redevelopment in the Town of Darien, Connecticut in many years.

The transaction closed on Nov. 15. Noroton Heights & Company, LLC is the borrower and affiliated parties own and operate the adjacent Palmer’s Market.

Trez Forman President and CEO Brett D. Forman and Russ Holland from the firm’s Atlanta office Managing Director arranged the financing.

Located on four acres at 264 and 346 Heights Road, Noroton Heights is planned to include retail, restaurants, 59 apartments and an underground parking garage. Four existing buildings constructed in 1960 are set to be demolished to make way for the construction of three brand-new buildings. Construction of a skybridge connecting two of the buildings is also planned.

Darien is primarily a commuter town, as many residents work in nearby New York City. The Noroton Heights metro north rail station connects to the redevelopment site.

“We are thrilled to expand our tri-state portfolio with this new loan,” said Forman. “Noroton Heights is a project that fills a void for new apartments, retail and restaurants to service the many commuters who rely on the rail station. We continue to aggressively monitor the region for similar opportunities.”

The latest transaction comes on the heels of Trez Forman completing the largest individual transaction in the private lender’s history. It funded a $115 million loan for Camperdown Square, a major mixed-use development in Greenville, S.C. Trez Forman also closed a $26.7 million loan for a suburban Atlanta mixed-use project on Nov. 8.

Trez Forman provides commercial bridge loans for development and construction and senior stretch financing, starting at $10 million. It also offers private and institutional investors equity investment opportunities in a variety of funds and assets.

About Trez Forman Capital: Founded in 2016, Trez Forman Capital is a Palm Beach, Florida-based commercial bridge lender for development and construction, senior stretch first mortgages and special situations nationwide. It provides developers and property owners with quick approvals on flexible short to mid-term financing from $10M to $75M-plus. Trez Forman has funded over $1 billion in loans since inception. The company also offers private and institutional investors equity investment opportunities in a variety of funds and assets. Trez Forman is a joint venture between Palm Beach-based Forman Capital and Trez Capital Group, one of Canada’s largest private commercial mortgage lenders with approximately $3 billion in committed capital. Trez Capital has originated approximately $10 billion in loans since its inception. For more information, visit www.trezforman.com.