PROJECT SIZE:
Office - 110,000 sf rentable
Apartments - 235 units

ACQUIRED:
December 1998
Completed November 2000

DATE SOLD:
January 2003

ACQUISITION PLAN/RESULTS:
Corporately owned bank asset was purchased through a competitive Request For Proposal process, to construct a mixed use project on the property.

SPL amended the IDA and transferred density to the site to expand the residential portion from 200 units to 235 units thereby increasing the institutional appeal of this component of project.

OCCUPANCY AT TIME OF SALE:
95%

EQUITY PARTNER:
Case Pomeroy
Jacksonville, Florida


SPL ROLE:
3rd Party Property Manager