EBSC Lending approves $28.9m loan for Jacksonville multifamily development

EBSC Lending has approved a $28.9 million construction loan for a Denver-based commercial real estate developer, paving the way for the construction of a 56-unit multifamily property in Jacksonville, Florida. This financing ensures that the five-story residential project, which had faced financing setbacks, moves forward with an expected completion date in the second quarter of 2026. The development, strategically located near Florida Route 207 and Lightsey Road in St. Augustine, is designed to offer modern, high-end living spaces with premium amenities, catering to Jacksonville’s growing housing demands.

With the Florida real estate market experiencing continuous expansion, Jacksonville has emerged as a hub for multifamily property development. EBSC Lending’s role in securing funding underscores its position as a key player in real estate financing solutions, ensuring that high-value projects maintain momentum despite shifting market conditions.

What Features Will the Jacksonville Multifamily Property Offer?

The newly financed development will provide studio, one-bedroom, and two-bedroom apartments, with four units designated as affordable housing. The project is expected to offer luxury finishes, including in-unit washers and dryers, stainless steel appliances, quartz countertops, and laminate flooring. Designed with community living in mind, the property will incorporate shared spaces such as a tenant lounge, coworking space, a rooftop deck with a BBQ area, a fitness center, and a dedicated dog run.

Located just two miles from Interstate 95 and near the Dixie Highway retail corridor, residents will benefit from easy access to major grocery stores, restaurants, and retail establishments. The project aligns with Jacksonville’s broader push toward urban revitalization and meets increasing demand for high-quality, multifamily rental properties.

How Did EBSC Lending Overcome Financial Challenges for This Project?

EBSC Lending played a crucial role in rescuing the deal after the project’s original lender withdrew just a week before closing. Through efficient structuring and a fast-tracked financing approach, the firm was able to finalize the transaction in just 28 days, ensuring that the developer could proceed with construction without delays.

David Palmer, Vice President of Special Assets at EBSC Lending, stated that the team’s rapid response and deep experience in complex real estate financing solutions were instrumental in ensuring the project’s success. By securing favorable terms, EBSC Lending was able to lower the developer’s capital costs, minimizing financial strain and ensuring long-term project viability.

What Does This Mean for Jacksonville’s Real Estate Growth?

Jacksonville continues to attract large-scale real estate investments, with multifamily property development serving as a primary driver of housing market expansion. The city’s strong rental demand, combined with its growing economy, has made it an attractive location for developers seeking construction loan approval.

This project, in particular, marks the Denver-based developer’s second multifamily development in the Jacksonville market, with two additional sites currently in the entitlement process. EBSC Lending’s strategic investment in Florida real estate highlights its commitment to supporting developers in high-growth markets, reinforcing Jacksonville’s position as a key destination for new housing projects.

Why Is EBSC Lending a Leading Name in Real Estate Financing?

EBSC Lending has established itself as a trusted provider of real estate financing solutions, with a strong track record of funding high-value projects across the United States and Canada. The firm has invested over $2 billion in balance sheet capital, offering a diverse range of lending products, including bridge loans, construction loans, mezzanine financing, rental loans, and self-storage financing.

By leveraging its expertise in real estate investment strategies, EBSC Lending remains at the forefront of construction loan approvals, helping developers navigate market fluctuations and secure funding for long-term real estate projects. With a dedicated team overseeing origination, underwriting, closing, and servicing, the firm ensures that borrowers receive tailored financing solutions suited to their unique project needs.

What Does This Mean for Future Construction Projects in Florida?

As Jacksonville continues to expand, multifamily property development will play a crucial role in meeting growing housing demand. With real estate financing solutions becoming increasingly competitive, developers must secure flexible funding options to remain agile in a rapidly evolving market.

EBSC Lending’s involvement in this Jacksonville project sets a precedent for efficient financing strategies, demonstrating how construction loan approvals can be expedited even in challenging circumstances. For developers seeking reliable funding, the ability to work with established lenders like EBSC Lending could be the key to unlocking new real estate opportunities.

By supporting projects that align with urban development goals, EBSC Lending not only strengthens its market presence but also contributes to the long-term growth of Jacksonville’s housing infrastructure. As additional projects gain approval, the city is set to benefit from new housing options, improved community spaces, and greater economic stability.