Trez Capital Announces Successful Year with Strong Q4 2023 Results

22.02.24 15:10 Uhr

Trez Capital continues to deliver consistent results to investors and strengthens its focus on residential unit demand in key regions across North America

Q4 2023 Highlights

  • John L. Creswell joined as Executive Managing Director, Global Head of Capital Raising
  • Debt funds maintained monthly distributions
  • Joshua Varghese as an appointed member of the Board of Governors

VANCOUVER, BC, Feb. 22, 2024 /CNW/ - Trez Capital, a leader in North American commercial real estate investments, proudly announces sustained growth over 2023 and strong fourth-quarter results. Trez Capital's strategic risk management approach has delivered substantial benefits to investors throughout 2023, showcasing resilience in the face of market volatility.

Trez Capital has navigated a volatile market and demonstrated solid performance throughout 2023.

Dean Kirkham, President & Co-Chief Executive Officer of Trez Capital, expressed the firm's commitment to consistent and reliable results. "Trez Capital has navigated a volatile market and demonstrated solid performance throughout 2023. Our team's boots-on-the-ground approach and in-depth market knowledge and relationships has been key to our success and will continue to serve investors in 2024 and beyond," he stated.

John Maragliano, Chief Financial Officer & Chief Operating Officer at Trez Capital, emphasized the firm's ability to provide attractive returns to investors amid volatile market environments, "Our disciplined approach to private real estate debt and equity investments centers on the residential sector of the commercial real estate market. This strategy is bolstered by thorough underwriting and liquidity management which underpins our ability to navigate market cycles and provide consistent and reliable results for our investors."

Organizational Update

Trez Capital draws on a diversity of skills, specializations and backgrounds to fortify our standing in the market. In the fourth quarter of 2023, Trez Capital had two significant organizational changes.

Industry veteran John L. Creswell joined the Trez Capital team in November 2023 as Executive Managing Director, Global Head of Capital Raising. John C. has over 20 years of experience and brings extensive global capital raising and investment management expertise to the firm.

Trez Capital welcomed Joshua Varghese as an appointed member of the Board of Governors. Trez Capital Board of Governors has five members, all of whom have unique perspectives and expertise.

Debt Funds Update

Trez Capital remains dedicated to providing investors with strong, reliable and increasing returns that are uncorrelated to the volatility of other asset classes. Trez Capital's debt funds demonstrated stable and consistent performance during the quarter, while maintaining monthly distributions.

  • Trez Capital Prime Trust ("Trust") maintained a monthly distribution rate of 0.52% (annualized rate of 6.24%)*
  • Trez Capital Yield Trust ("Trust") maintained a monthly distribution rate of 0.64% (annualized rate of 7.68%)*
  • Trez Capital Yield Trust U.S. CAD ("Trust") maintained a monthly distribution rate of 0.72% (annualized rate of 8.64%)*
  • Trez Capital Yield Trust U.S. USD ("Trust") maintained a monthly distribution rate of 0.72% (annualized rate of 8.64%)*

*Refer to Fund Fact Sheet for full details. During the quarter ended December 31, 2023, the Trust complied with all investment objectives and restrictions set out in the Offering Memorandum dated April 30, 2023.

Equity Investments Program Update

Trez Capital's Equity Investments focused on ongoing multi-family development projects, completed lot sales (from lot development investments), and improving operations in self-storage facilities throughout 2023. The Equity Program strategically implemented initiatives to enhance the quality and resilience of the portfolio by continuing to focus on the U.S. Sunbelt. Looking forward to 2024, the program is poised for sustained growth while responding to the increasing demand for single-family lots.

Outlook for 2024

There are significant trends that will influence the commercial real estate landscape in 2024, including valuation adjustments, housing shortages, pockets of distress, loan maturities and refinance opportunities. Trez Capital, as an experienced private lender, is well-positioned to capture opportunities and showcase the resiliency of the North American Commercial Real Estate sector.

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 (*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