All of the units are available for long-term leases between two and 10 years. The program is designed for active Baby Boomers who desire the flexibility to travel or live up north part of the year. The community is not age restricted, however.

“We are bullish on residential projects targeted towards retiring Baby Boomers,” Forman says. “The oldest of this demographic are in their 70s now, but they are not looking to settle down, play shuffleboard and watch TV reruns like their parents did. They are more mobile and active than generations past. Developers who are paying close attention to this group by tailoring communities to the active adult lifestyle should perform exceptionally well. Whether it's for-sale product or rentals, as a lender, we seek to do more of these kinds of deals.”

In fact, a recent report from Harvard University indicated through 2035, 1.6 million older-adult households will move into rental properties each year compared to 825,000 who will choose to own.

Trez Forman is a joint venture formed in 2016 by Palm Beach-based Forman Capital and Vancouver-based Trez Capital Group – one of Canada's largest private commercial mortgage lenders. It provides commercial bridge loans for development and construction and senior stretch financing starting at $5 million. The venture also offers private and institutional investors equity investment opportunities in a variety of funds and assets. This year, Trez Forman expects to originate more than $300 million worth of loans.