Forman Capital LLC to Triple its Commercial Real Estate Loan Volume This Year to $60 million

PALM BEACH, Fla. – Forman Capital, LLC in Palm Beach reported it loaned almost $20 million last year to finance real estate acquisition and development projects and the private lender expects to triple that figure this year. Founded by entrepreneur Brett D. Forman in 2004, Forman Capital LLC targets middle market borrowers with an entrepreneurial platform that combines real estate underwriting and analysis of traditional credit metrics with creativity and speed. Forman Capital lends money for situational and bridge loans as well as subordinate debt financing, preferred equity and note acquisitions in the $2.5 million to $15 million range. Forman said he gets the best deals because his firm is able to respond quickly and effectively across a wide range of real estate asset classes. “And we structure our deals to provide sustainable solutions and certainty of execution,” he explained. Last year, Forman provided $2.5 million to acquire a 144-unit South Carolina multifamily property in less than two weeks. A $1.55 million loan to acquire a non-performing note secured by a first mortgage on a 65-room Holiday Inn Express in Atlanta took just four days. Three years ago, Forman established a local landmark when he acquired an abandoned office building on South Ocean Blvd. in Palm Beach, redeveloped it and reopened it as a fashionable address that now includes BankUnited, Forman’s headquarters and medical facilities for the not-for-profit Bethesda Hospital, a pharmacy, physical therapist, salon/spa and more than a dozen businesses and professionals along with the Palm Beach Executive Center, a full service turnkey executive suite operation. “We’re direct lenders and we are investors and developers,” Forman said. “We participate in value added projects that meet the needs of the community.”