The property asset involved in this transaction is a development site located at 5804 & 5806 Main Street in Jacksonville, comprising 3.15 acres. The sale price of the property was $2,300,000, and it is intended for the development of an affordable housing community.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $2,300,000
• Buyer: Steve Auger, Domingo Sanchez, Deion Lowery, Edward E. Haddock, Jr. & Robert Godwin - Birdsong Housing Partners
• Seller: CDA Technical Institute Inc
• Brokers: Bryan Mickler & Luke Feldman - Three Lions Real Estate Group
• Lenders: Citibank & Bank of America

This transaction involves significant development plans, as Birdsong Housing Partners aims to create Egret Landing, which will feature 88 units for residents aged 62 and older. The project is noted as Jacksonville's first under Florida's Live Local Act and is scheduled to commence construction in March 2025, funded through state loans, tax credits, and financial support from Bank of America and Citibank.