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Trez Capital provides financing for phase two of multifamily property in Salt Lake City

Salt Lake City — The Dallas-based office of Trez Capital announces the closing of a loan for Salt Lake City-based Lotus Company to build the second phase of its newest multifamily development, Republic. Building upon the success of phase one, the Republic II expansion further demonstrates Lotus Company’s dedication to fostering vibrant and inclusive environments within the city’s urban landscape. This is the seventh project Trez Capital has financed with the Lotus Company, bringing their total to over $100 million in financing to the Salt Lake area.

The property, located at 51 S. 300 E in downtown Salt Lake City, sits up the hill from the greater Salt Lake Valley, offering views of the entire valley from the upper floors of the building. It is within proximity to several local attractions like Liberty Park and The Leonardo, restaurants, and shopping centers like City Creek Center and The Gateway.

Republic II spans 201,109 square feet and will feature 132 units that range from studio and one-bedroom floor plans. The property boasts state-of-the-art amenities that include a coworking office space, clubhouse, package room, bike storage, ground floor theater room, fitness center with sauna, mezzanine game room, pool and hot tub with cabanas, a dog park, an outdoor BBQ and fire pit area along with ground floor retail, a restaurant and a micro market.

“Republic II’s strategic location in downtown Salt Lake City will attract residents who seek a vibrant and convenient urban lifestyle. The development will not only provide much-needed housing options in the area but will also contribute to the local economy and job market,” said Jason Stowe, vice president of origination at Trez Capital. “Trez Capital has been very active in this region with our partners at Lotus Company, and we have witnessed the transformation of this city. As our seventh deal with Lotus Company, this project reinforces our commitment to shaping and growing thriving communities in the region.”

The Lotus Company, recognized for thoughtful design and sustainability, is an award-winning property venture and hospitality organization mastering urban infill and revitalization, large-scale residential and commercial mixed-use projects as well as best-in-class hospitality projects that include brewing, distilling and roasting, in addition to bar and restaurant ownership. The company has developed over 5,015 multifamily units with an additional 399 units currently under construction throughout Utah.

“Republic and Republic II are exciting new additions to the budding Lotus District in downtown Salt Lake City, providing much-needed vibrant neighborhood spaces. With the introduction of Citizens Cocktails and Kitchen and another hospitality venture on the ground floor of Republic II, we anticipate this district will start to take on our vision in no time,” said Bryan Wrigley, founder and CEO of Lotus Company.

Phase two of Republic is expected to be complete by late 2025. The first phase of Republic completed construction in 2023.

Trez Capital provides private financing to property developers for a variety of purposes including acquisition, refinancing, horizontal development, vertical development, land banking/lot banking and bridge financing on property deemed suitable to our investment strategy, namely: tracts and properties of all sizes and types (multi-family, single-family residential lot development, mixed-use, select serve hospitality, self-storage, industrial and retail). For more information about the financing of this deal, please contact Jason Stowe, vice president at Trez Capital at 214.244.4314 or [email protected].

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 $5.3* billion CAD in assets under management and has funded over 1,700 transactions totaling more than $18.5 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)).

About The Lotus Company:

Lotus Company embarked on its creative journey in 2007 under the visionary leadership of Founder and CEO, Bryan Wrigley. His goal was to establish a company characterized by entrepreneurial spirit, unparalleled sophistication, and collaborative partnerships. Since its inception, Lotus has transformed into an organization that truly embodies the ethos of mindful creation, gaining renown for generating extraordinary value in often overlooked spaces.

Whether in the realms of housing or hospitality, Lotus approaches development with a community-centric focus, leveraging the social potential of everyday spaces through meticulous and award-winning design.

The company boasts a team comprised of industry leaders spanning various disciplines. Lotus is particularly celebrated for its extensive expertise in urban infill and revitalization, as well as its proficiency in executing large-scale residential and commercial mixed-use projects. Additionally, the company has earned a reputation for establishing best-in-class hospitality brands.