Yahoo Finance Trez Capital Announces Strong Performance in Q1 2024 Amidst Expanding Opportunities in North American Commercial Real Estate
VANCOUVER, BC, May 15, 2024 /CNW/ - Trez Capital, a leading non-bank commercial real estate lender and investment manager, reaffirms its strategic advantage in identifying and capitalizing on opportunistic investments in the North American commercial real estate (CRE) market after a successful first quarter of 2024.
"Trez Capital remains at the forefront of the alternative financing space, where compelling opportunities have emerged from the increasing debt funding gap across various real estate sectors, said Dean Kirkham, Co-Chief Executive Officer & President, Trez Capital. "Our strategic focus on select markets with strong population, employment and gross domestic product (GDP) growth continues to position us for success and consistently provide value to our investors."
Debt Fund Update
Trez Capital is pleased to announce the payment of year-end top-up distributions following the conclusion of the annual audit of each Trust. The annual income generated in 2023, in most debt Funds, surpassed the regular monthly distributions paid to unitholders. These figures represent an estimate of the average return to F series unitholders. The actual top-up distribution rate may vary for each individual investor.
The Funds performed beyond initial expectations due in part to market shifts that occurred in 2023, including increased housing demand, rise in property values and improved rental income, coupled with effective asset management.
"In 2023, we paid out over $165 million in distributions to our 33,000 investors worldwide," said John Maragliano, Chief Financial Officer & Chief Operating Officer, Trez Capital. "2024 presents even more significant opportunities for strategic investments, with an escalating demand for housing in key markets across North America and favourable regulatory and economic fundamentals in those regions."
For more information on the Trez Capital family of Funds, please visit: trezcapital.com
Equity Investments Update: Reedy Creek Development
The Reedy Creek development represents Trez Capital's inaugural investment with Castlebridge Residential Development ("Castlebridge"). Situated in Charlotte, North Carolina, this development comprises 104 detached, single-family 50-foot lots spread across 40.1 acres. Notably, it boasts a projected internal rate of return (IRR) exceeding 20%. The anticipated completion timeline for this community is 3.5 years. Garnering significant interest so far, the lots have already been pre-sold to America's largest homebuilder, D.R. Horton."
"The Reedy Creek development is an example of Trez Capital's opportunistic approach and dedication to working with high-quality, industry-leading partners. Castlebridge's highly experienced team has a track record of successful developments throughout North Carolina and Virginia," remarked John D. Hutchinson, Co-Chief Executive Officer & Global Head of Origination Trez Capital. "We are confident in the long-term potential of this project and the value it will provide to our investors."
About Trez Capital
Founded in 1997, Trez Capital is a diversified real estate investment firm and preeminent provider of commercial real estate debt and equity financing solutions across North America. Trez Capital offers private and institutional investors strategies to invest in a variety of opportunistic, fully secured mortgage investment funds, syndications, and joint-ventures; and provides property developers with quick approvals on flexible short- to mid-term financing.
With offices throughout North America, Trez Corporate Group has over $5.4* billion CAD in assets under management and has funded over 1,800 transactions totaling more than $19 billion CAD since its inception. For more information visit www.trezcapital.com.
*Trez Corporate Group AUM includes assets held by all Trez-related entities as well as $3.0 billion Manager AUM (Trez Capital Fund Management Limited Partnership).
These materials are for informational purposes only and do not constitute an offer to sell or a solicitation to buy securities. Past results are not indicative of future performance. Forward-looking statements are included. Actual results, performance and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained above. Such forward-looking statements are based on a number of assumptions which may prove to be incorrect including, but not limited to: the ability of the Funds to acquire and maintain a portfolio of mortgages capable of generating the necessary annual yield or returns to enable the Funds to achieve their investment objectives, the ability of the Funds to establish and maintain relationships and agreements with key financial partners, the maintenance of prevailing interest rates at favorable levels, the ability of borrowers to service their obligations under the mortgages, the ability of the Manager to effectively perform its obligations to the Funds, anticipated costs and expenses, competition, and changes in general economic conditions. While the Funds anticipate that subsequent events and developments may cause its views to change, the Manager specifically disclaims any obligation to update these forward-looking statements, except as required by applicable law. |
SOURCE Trez Capital
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