Bridge Loan for Land Development in St Johns, Florida

BridgeInvest, a direct private lender based in South Florida, funded a $4,500,000 1st lien position bridge loan secured by 38 acres of land within the Beachwalk at Twin Creeks development in St. Johns, a community just south of Jacksonville, FL. The loan proceeds will provide the Borrower with additional liquidity needed to further invest in several different projects within the Beachwalk at Twin Creeks community. The Borrower required an expedited closing in order to continue with existing site work and infrastructure development without falling behind schedule. 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. 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 development project. This bridge loan transaction closed in November 2019.