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The fully-leased property, which also includes a marina and a two-story office building, was sold by Hudson Capital Group, Inc. Mast Capital financed the purchase with a loan from CIT bank, N.A.
The firm's newly launched Fund IV, is a value-add workforce housing fund that will focus on expanding Monument's presence within Sunbelt markets, as well as select areas of the US Midwest, where it already has a presence.
“This was a very challenging lease transaction with competition from two other buildings in Waterford at Blue Lagoon, both capable of accommodating Parbel's requirements,” says C&W's Mendoza.
We lack the demand drivers necessary to generate the significant projects required to transform Downtown Jacksonville into the thriving area that many want to see.