$16.1 Million Construction Loan Closed for Luxury Residential Community Project
Diamondback Investment Group, LLC has closed on a $16.1M construction loan for a development in Burlington, North Carolina on behalf of Burlington Grand Oaks, LLC.
The project titled Huffman Point will be a luxury residential community that will be developed within 3 phases. This 49-acre site is located at 3040B Longpine Rd. and will include 65 lots varying between one third of an acre to over a half acre in lot size.
Diamondback Investment Group, LLC is a North Carolina-based real estate development company owned and managed by Zach Tran and Hal Kern. Diamondback Investment Group has a strong lender relationship with Trez Forman Capital with having multiple development projects in their projected pipeline.
Brett Forman, President and CEO of Trez Forman Capital Group arranged the Construction loan. Trez Forman, a Boynton Beach- based joint venture between mortgage lender Forman Capital and Canadian commercial mortgage lender Trez Capital Group, issued the $16.1 million loan.
Tran said in a statement “We’re excited to further the expansion our relationship with Trez Forman Capital by way of our Single-Family Home development division, Fixed Point Homes. Much like our recent experience with TFC on our ground-up Multi-Housing developments, Trez Forman again has provided our company a very developer-symbiotic lending solution that streamlines our construction process from a funding and capitalization stand-point.”
Diamondback Investment Group, LLC
Founded in 2016, Diamondback Investment Group, LLC, was formed with a core mission of creating, building, and managing a portfolio of mixed-use and residential projects. These projects involve commercial, single and multi-family developments throughout North Carolina.
Diamondback Investment Group, LLC is headquartered in Greensboro, North Carolina, with a field office in Burlington, North Carolina. To learn more, visit www.diamondbackinvestmentgroup.com.
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