JACKSONVILLE, FL-Miami-based developer American Land Ventures LLC has received more than $100 million in financing for the development of the Strand. The 295-unit high-rise tower is under construction on the south bank of the St. Johns River in Downtown.

Miami-based Madison Capital Group LLC acted as exclusive financial advisor to American Land Ventures in the transaction. "The Strand represents Madison's continued ability to close on unique and complex transactions," says Madison Capital Group managing director Timothy Martorella. "Through Madison's extensive capital relationships, market knowledge and deal structuring ability, we were able to arrange attractive joint venture equity prior to the project receiving its final C.O. allowing the buyer to begin presales and marketing without incurring the expense of carrying the building."

The Strand, expected to be completed in 2007, will be comprised of one-, two- and three-bedroom units averaging 1,200 sf. The complex will include a fitness center, wellness center and a recreation deck with swimming pool.

In addition to the Strand, American Land Ventures is constructing the Peninsula at Jacksonville, a 234-unit condominium project adjacent to the Strand in Downtown. Other recent projects include Phase II of the New River Development, a 409-unit condominium project in Fort Lauderdale and the Residences a the Fountains, a 239-unit to-be-developed apartment project in Plantation.