Celestial Fund Provides $5.5 Million Refinance Loan For 4.3 Acre Development Site In Jacksonville

The asset involved in this transaction is a development site located at 2303 Market Street in Jacksonville, Florida. The property encompasses 4.30 acres with a building area of approximately 47,000 square feet. A loan amount of $5.5 million has been secured for refinancing purposes.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $5,500,000
• Address: 2303 Market Street
• Market: Jacksonville
• Acres: 4.30
• Building Area: 47,000 SF
• Lender: Eugene Rutenberg - Celestial Fund
• Loan Type: Refinance

Eugene Rutenberg of Celestial Fund provided financing for this project, which is part of The Phoenix Arts & Innovation District. The area covers approximately 8.3 acres with six development sites and includes a portfolio of existing warehouse buildings totaling around 120,000 square feet. The project aims to add up to 830 residential units and incorporates a mix of food and beverage, event, and creative office uses, showcasing strong demand in the evolving Jacksonville urban landscape.