In other news, Collateral Real Estate Capital LLC has financed a $272 million loan for a portfolio of fourteen apartment complexes, five of which are in Jacksonville.

It is the largest loan in the company’s 73-year history.

http://tinyurl.com/f8323

A 21,500-square foot building located in Ponte Vedra Park Drive, Jacksonville, has been sold for $4.5 million.

The buyer was the Asutosh Group LLC of Jacksonville and the plan is to convert the building into office condo units.

http://tinyurl.com/r93bt

By the end of this year, expect to see a new 28 storey condo tower overlooking the St Johns River.

Called “The Strand”, owners of the condo units will be able to start moving in from the New Year. According to the company that built the tower, The Strand is a culmination of many real estate projects which has changed the face of downtown Jacksonville for the better.

If you’re interested in living in one of the new 295 condo units, the sales center will be open from November 18th onwards.

http://tinyurl.com/n57vd

In what has been hailed as a “great step forward for Downtown development”, Main Branch LLC has struck a $3.25 million deal over the Haydon Burns Public Library site.

The company beat two other companies to clinch the agreement and they will set about converting the site into a mixture of residential, retail and office space. The original building would be preserved and even an extra couple of floors will be added to make more space.

Development costs are estimated to be as much as $17 million.

http://tinyurl.com/rplxz

$3 million has bought ZE Regency LLC the Regency Square Shopping Center in Jacksonville.

The company owns four other similar shopping centers and this one has six tenants including Subway. The previous owners of the center bought the property 5 yeara ago for $350,000 and it is now estimated to be worth $1.3 million.

http://tinyurl.com/hgapn