Chase Properties leadership at North Beach Townhomes development site Jacksonville Beach FL

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Impact in Action: North Beach Jacksonville

Behind the DLP Capital Lending Fund’s $5.88M loan to Chase Properties

May 14, 2026

Impact in Action

In December 2023, the DLP Lending Fund extended $5.88 million in financing at 12.99% annual interest and a 68% Loan-to-Value (LTV) ratio to Chase Properties, a full-service real estate and land development company in North Florida with over a three-decade track record of designing award-winning communities.

Sponsor highlight: Chase Properties

Led by Founder, President, and CEO Michael Balanky—a third-generation Jacksonville native—Chase Properties has developed commercial, residential, and mixed-use projects in North Florida for over 30 years.¹ The vertically-integrated firm specializes in comprehensive ground-up developments and brings deep expertise to site selection, environmental remediation, complex land entitlements, and construction management.¹

Beyond residential projects, Chase Properties has a robust portfolio that emphasizes transit-oriented developments (TODs), public-private partnerships, and urban-infill designs centered on healthy living initiatives.² Over the past three decades, the company has shaped North Florida's landscape through an array of master-planned single-family neighborhoods, commercial brokerage services, and high-profile mixed-use spaces, including prominent community-centric projects like Trailview, Cary Landing Townhomes, and The District.²

North Beach Townhomes Jacksonville Beach FL Aerial Overhead

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Loan highlight: North Beach

DLP Capital’s loan will allowed Chase Properties to fund horizontal development for North Beach Townhomes, a 34-unit townhome community in Jacksonville Beach, Florida.

Although DLP Capital’s loan carried a 12-month term, the project progressed faster than expected. Chase Properties sold the lots to a national homebuilder within 4 to 5 months following the completion of horizontal development, allowing the sponsor to pay off the loan in full by October 2024—a mere 10 months after origination.

This early payoff enabled the DLP Lending Fund to redeploy capital into new deals more quickly than expected, a positive outcome for the Fund’s investors—and one that furthers DLP Capital’s mission to finance the building of Thriving Communities for America’s working families.

North Beach Townhomes interior – Jacksonville Beach FL attainable housing

Jacksonville Beach: Where coastal living meets urban connectivity

Set on 1.5 acres across three parcels of land, North Beach is situated just 10 blocks from the coastline, enabling residents to enjoy the sun and sand without sacrificing the comforts of spacious suburban-style living. This central location positions North Beach as an ideal community for residents who want to balance work, life, and fun.

Beyond its coastal appeal, the community is anchored by robust local demographics and infrastructure. With a median household income of over $120,000,³ Jacksonville Beach’s affluent resident base is a source of strong demand for living experiences like Northbeach, a high-quality community with proximity to both natural amenities and economic hubs.

Jacksonville Beach is also conveniently located within commuting distance to Jacksonville, Florida’s largest city by population.⁴ Situated near major thoroughfares like State Road 202 and Beach Boulevard, residents can reach downtown Jacksonville in roughly 20 to 30 minutes by car.

North Beach Townhomes streetscape Jacksonville Beach FL – DLP Capital

The community is also within a 40-minute commute from Jacksonville’s top five largest employers, including Amazon and the Mayo Clinic.⁵ The broader Jacksonville metropolitan area consistently ranks as one of the fastest-growing job markets in the country, supported by heavyweights in healthcare, logistics, and finance, including Baptist Health, Florida Blue, and Citi.⁶

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