MIAMI (March 11, 2021)–LV Lending, a private lender focused on residential and commercial investment properties, today announced the closing of a $15 million bridge loan for the refinancing of Beachwalk at Twin Creeks, the 1,200-acre master-planned community centered around the 14-acre, man-made Crystal Lagoon in St. Johns, FL. The loan was facilitated by Camilo Niño, Ricardo Uribe and Alen Hernandez of LV Lending and arranged by Concord Summit Capital’s capital market Miami team led by Kevin O’Grady and Justin Neelis on behalf of the borrower, Twin Creeks Development Associates, LLC (“TCDA”). Closing took place March 10th.
The bridge loan will be used to refinance existing indebtedness, fund the completion of remaining improvements within the Beachwalk community, and provide liquidity for future development activities related to the final build-out of Beachwalk and Twin Creeks.
The Beachwalk community is a part of the larger Twin Creeks planned unit development featuring 2,800 single-family residential units, 646 apartments, 825,000 SF of retail, and 1.4 million SF of industrial and office campus space. Including Beachwalk, the communities within Twin Creeks are expected to deliver approximately 3,500 residential units over the next 4 years. Concord Summit Capital also recently arranged the construction financing for the second phase of the multi-family component within Beachwalk, for which construction is now underway.
Located just 20 miles south of Jacksonville on the newly widened CR210, approximately one mile east of the I-95 interchange, Twin Creeks is the gateway to Ponte Vedra Beach and Nocatee, one of the ten best-selling residential communities in the United States. For information on LV Lending, please visit www.LVLending.com.
About Concord Summit Capital, LLC
Concord Summit Capital is a leading intermediary between sponsors and providers of capital for commercial real estate debt, structured finance, and equity financing. Collectively, the team has closed on more than $22 billion of capital for their clients across the United States. Concord Summit Capital is headquartered in Miami, Florida with offices in Denver, CO and Los Angeles, CA. For more details, please see www.concordsummit.com
About LV Lending
LV Lending is a Miami-based private lender focused on investment purpose loans for the acquisition and development of residential, commercial and land projects. The company has a current servicing portfolio of over $200 million and has overseen more than 500 transactions for $400+ million in Florida and Georgia. Founded in 2015, LV Lending prides itself on its team’s approachability, fast closings and high level of transparency. LV Lending is an affiliate of Linkvest Capital and Linkpoint Properties.