Forman Capital Provides $26 Million First Mortgage for 280-unit Condominium Inventory in Panama City Beach

PALM BEACH, Fla. -- Forman Capital, a direct lender for commercial real estate nationwide, recently funded a $26 million first mortgage secured by 280 units in the 709 unit community known as Shores of Panama located in Panama City Beach. Brett Forman, founder and president, said the loan was utilized to refinance the existing bridge debt, and provide greater flexibility for the sponsor’s business plan. Forman Capital took an entrepreneurial approach to the transaction, provided flexible terms, and closed in less than 30 days. Forman Capital’s platform combines real estate underwriting and analysis of traditional credit metrics, with integrity and speed. Since 2004 Forman Capital has provided creative and reliable capital solutions to its middle market clients across a diverse range of real estate asset classes and transaction types.