Dixon Link Capital successfully arranged a $7.5 million construction-to-perm loan to develop Tyler Plaza West, a multi-tenant retail center project in Yulee, Nassau County, Florida.
Faith Link, Managing Partner of Dixon Link Capital, worked on behalf of Cross Regions Group, one of Northeast Florida’s leading commercial real estate developers, to secure a commercial mortgage for the fully-leased retail project through a regional bank partner. Loan proceeds cover over 70% of the cost to build Tyler Plaza West, which will span over 28,000 square feet and house multiple restaurants as well as a childcare center.
Transaction Highlights
Dixon Link Capital, through its strong relationships with a diverse network of lenders, helped the borrower navigate a challenging environment in capital markets and establish a new relationship with a regional bank based in Tampa, Florida, to fund the retail development project.
Working with the lender, Ms. Link ensured the borrower was able to take advantage of falling interest rates as closing approached. The loan’s construction-to-permanent structure supports the ongoing success of the retail project while minimizing overall transaction costs. Additionally, the borrower obtained maximum equity credit for the land, owned since the early 2000s, through the team’s data-driven successful challenge of the appraisal. As a result, the borrower secured a competitive interest rate, received higher loan proceeds, and required less cash at closing.
Strong Retail, Prime Location, Ideal Developer
Tyler Plaza West is located in Yulee, Nassau County, Florida – the 4th fastest-growing county in the state and the 46th fastest-growing county in the United States. The area is expected to experience a substantial population increase of 46.9% by 2035. Currently home to over 100,000 residents, Nassau County’s continued surge in population is taking place alongside significant development initiatives in industry and infrastructure, of which the Tyler Plaza West project plays a critical role.
Cross Regions Group, led by visionary CEO, David Ergisi, is the sole developer for the project. The company holds an extensive track record of successful retail and mixed-use developments since its founding in 2014. Cross Regions Group continues to develop over 1 million square feet in the northeast Florida area. Tyler Plaza West represents a continuation of the company’s investment in and strong growth outlook for the region.
Tyler Plaza West’s groundbreaking took place in February 2025. It is expected to be ready for occupancy in December. More press coverage on the highly anticipated retail development can be found here.
For CRE Development Projects, Dixon Link Capital Delivers
During high interest rate environments like 2023 and most of 2024, many CRE lenders shift to a more conservative approach and credit appetite. Even for strong projects led by seasoned, successful real estate developers, it can be a challenge to secure the financing needed through usual sources.
Dixon Link Capital has the expertise, resources, and relationships to source creative, competitive financing solutions for commercial real estate development projects. Ready to fund your next CRE deal? Get started here.
Dixon Link Capital is a commercial mortgage broker based in Jacksonville, Florida, specializing in commercial real estate. We are proud to be “Your Link to Lenders!“
