Updated Sep 16, 2026
BWE Secures $101 Million Bridge Loan From HPS Investment Partners And BlackRock For Senior Housing
4890 Sweetgrass Place
$101,000,000
Units
308
Asset Type
Senior Housing
Closing
Sep 15, 2026
About this deal
AI
The asset involved in this transaction is a senior housing property located at 4890 Sweetgrass Place in Jacksonville, Florida. The property consists of 308 units and is classified as a luxury active-adult community. A bridge loan of $101,000,000 was secured to refinance the property's construction and mezzanine debt.
Summary of transaction details:
- Property Type: Senior Housing
- Transaction Amount: $101,000,000
- Loan Type: Bridge
- Loan Terms: non-recourse, floating-rate
- Lender: HPS Investment Partners & BlackRock
- Brokers: Andy Effler, Sam Miller, Conor Lee, Paul Smith, Chad Kiner & A.J. Mangan - BWE
- Market: Jacksonville, FL
- Units: 308
BWE was instrumental in securing the bridge loan from HPS Investment Partners, a company within BlackRock. The financing is structured as a three-year floating-rate loan intended to cover interest and carry reserves during the lease-up phase of the property.
Players
Jacksonville Senior Housing Market Snapshot
Boundary boundary · Senior Housing · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.16%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93