BridgeInvest Funds $4.5 MM Development Loan in St. Johns County
1st Priority Mortgage Loan
BridgeInvest recently closed a $4,500,000 development loan secured by 38 acres of land within the Beachwalk at Twin Creeks development in St. Johns, a community just south of Jacksonville, Florida. Beachwalk is a master-planned lifestyle community anchored by a 14-acre lagoon managed by Crystal Lagoons. Additionally, Beachwalk features waterfront restaurants, shops and recreational facilities. The subject property includes three separate parcels with planned development for an assisted living facility, medical offices and retail. The loan allows the borrower to continue with infrastructure development, site work and marketing for the greater Beachwalk development.
The borrower required an expedited closing in order to continue with existing site work and infrastructure development without falling behind schedule.
The loan proceeds will provide the borrower additional liquidity needed to further invest in several different projects within the Beachwalk at Twin Creeks community.
The loan was brought to BridgeInvest through an existing borrower affiliated with the project’s developer, evidencing the value proposition BridgeInvest is able to provide its clients.