DLP Capital Funds $3.89 Million Loan for Armsdale Development in Jacksonville
DLP Capital is proud to announce the successful closing of a $3,895,000 loan to Corner Lot Development Group, a privately-owned real estate development firm in North Florida.
Originated through the DLP Lending Fund, this acquisition and development (A&D) loan will support the development of Armsdale, paving the way for site preparation and the eventual vertical construction of single-family housing.
Armsdale: An upcoming community in Jacksonville
Spanning 17.21 acres in North Jacksonville, Armsdale will be developed into 53 single-family residential lots, each measuring 40 by 110 feet.
Most of the pre-development work for the site—including engineering, architectural, zoning, and entitlement—is already complete. Once the loan closes, Corner Lot Development Group plans to begin horizontal construction on the site. Once complete, the sponsor plans to sell the lots to an affiliated single-family homebuilder.
Situated within the Interstate 295 Beltway, Armsdale is located roughly 11 miles north of downtown Jacksonville, Florida’s largest city by population and the tenth largest nationwide.1 Today, roughly 1 million people call Jacksonville home,1 and a further 700,000 live within the broader seven-county Jacksonville metropolitan area.2
Thanks to the area’s robust local economy, favorable coastal climate, and relative affordability compared to South Florida metros, the Jacksonville metro area has grown significantly. Between 2020 and 2024, the metropolitan area has expanded by a cumulative 9%, adding nearly 150,000 residents across four years.3
This ongoing influx of residents has resulted in sustained demand for single-family housing developments like Armsdale.
Strategic financing to initiate horizontal construction
This $3,895,000 A&D bridge loan, which closed in February 2026, features a 24-month term, plus two six-month extension options. This structure gives Corner Lot Development Group the flexibility and runway required to complete pre-development work and horizontal construction.
To safeguard investor capital, the loan was underwritten at a conservative Loan-to-Value (LTV) ratio at completion of 69.93% against an estimated payoff value of $5,570,000. The loan is also structured as a first-lien mortgage and secured by a full-recourse guaranty.
Corner Lot Development Group: A leader in Northeast Florida real estate
Based in Jacksonville, Corner Lot Development Group (CLDG) is a subsidiary of Corner Lot, a private, independently-owned real estate development firm in Northeast Florida.
Founded in 2017 under the Corner Lot umbrella, CLDG has developed hundreds of affordable single-family residences in Florida.4 The sponsor’s focus on attainable, high-quality, and community-centric housing makes them an ideal partner for DLP Capital—aligning strongly with the firm’s mission to finance the building of Thriving Communities for America’s working families.