Scott Mehlman

As a principal, and Forman Capital’s CIO, Scott Mehlman is trusted with executing the firm’s overall investment strategy and overseeing all company investments. Before joining Forman Capital in 2023, he was VP of origination for a Canadian-based private CRE finance company.  

He is active with several product types including BTR, multifamily, condos, adaptive reuse, industrial, lot development/horizontal infrastructure, land, retail, select hospitality and select office.

Some notable 2023 transactions included the $38,500,000 condo construction loan for the development of 97 condos for sale in Miramar Beach, FL near Destin. Mehlman negotiated and ran the entire deal for Forman Capital, including structuring a deal where the borrower confirmed Forman Capital was not the cheapest, but the best option for them. The sponsor owned the land for nearly 40 years with practically a $0 basis. With proper pre-sales and deposit usage, Mehlman was able to structure a deal that worked for the sponsor but at the same time protected Forman investors in downside scenarios. The project is already under construction and the pre-sales are now sufficient to pay off the Forman construction loan. Mehlman has begun discussions with the borrower for Phase 2 of the project. 

He was also responsible for structuring a $28,000,000 facility for the development of 109 single-family homes for rent in Warner Robins, GA, with additional land collateral. The borrower sought to start construction immediately on the project but required 85% LTC to get the project fully funded. In 2023, 85% LTC was a common ask but rarely fulfilled by the capital markets, given the increasing interest rates, high inflation and economic instability. Mehlman was able to bring in additional land collateral, which was fully zoned and entitled for residential uses, in order to stretch the loan proceeds up to the 85% LTC the borrower required.  

Since closing, the borrower has sold some of the additional land collateral, which as the loan required, paid down the Warner Robins loan. The paydown has brought the Forman loan down to a perceived 65% LTV on the remaining collateral. Forman is still funding the construction of the 109 single-family homes for rent, with approximately 50 of the homes complete and occupied. 

These are some of the reasons we selected Scott Mehlman for inclusion in the 2024 Connect CRE Top Mortgage Brokers and Lenders Awards. These awards recognize industry professionals who have demonstrated the highest standards in commercial real estate finance.