(To read more on the multifamily market and the debtand equity markets, click here.)

JACKSONVILLE, FL-Miami-based developer American Land VenturesLLC has received more than $100 million in financing for thedevelopment of the Strand. The 295-unit high-rise tower is underconstruction on the south bank of the St. Johns River inDowntown.

Miami-based Madison Capital Group LLC acted as exclusivefinancial advisor to American Land Ventures in the transaction."The Strand represents Madison's continued ability to close onunique and complex transactions," says Madison Capital Groupmanaging director Timothy Martorella. "Through Madison's extensivecapital relationships, market knowledge and deal structuringability, we were able to arrange attractive joint venture equityprior to the project receiving its final C.O. allowing the buyer tobegin presales and marketing without incurring the expense ofcarrying the building."

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.